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Foreign direct investment (FDI) in the country's services sector declined by 24 per cent to $2.59 billion (Rs 11,885 crore) during April-November of the current fiscal, according to the Industry Ministry's latest data.
The financial and non-financial services sector had attracted FDI worth $3.43 billion (Rs 16,566 crore) during April-November 2009-10.
According to experts, the global economic recovery is not strong, which is affecting foreign investments in India.
“FDI is showing weakness now. Global economic recovery is still fragile,” Crisil's Principal Economist Mr D. K. Joshi said.
He, however, said that “India still remains a preferred destination for FDI and that is evident from the strong foreign institutional investors (FII) inflows we are seeing.”
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