December 4, 2009 6:45 PM

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India's FDI up by 56 pc in October

Foreign Direct Investment, FDI into country increased by over 56 per cent to 2.3 billion US dollars in October, despite the persisting global financial crisis. The FDI inflows in the year ago period stood at 1.5 billion dollars.Commerce and industry Minister Anand Sharma said during the first seven months of this fiscal, the country has received about 18 billion US dollars as FDI. He said, India has set a target to attract 50 billion dollars of FDI annually by 2010 and increase it to100 billion dollars by 2017.Meanwhile, a World Bank report ranked India at 133 position, a notch below last year. It said business environment in the country had become tougher this year.

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