October 08, 2006	Sunday	Ramazan 14, 1427

NEW DELHI, Oct 7: India’s booming economy drew a record $2.9 billion in foreign direct investment in the first four months of the fiscal year, nearly double last year's amount, a report said on Saturday.

“FDI inflows in April-July 2006-07 increased by 92 per cent to $2.9 billion from $1.5 billion in the same period of the last fiscal year,” Commerce Minister Kamal Nath told reporters, according to the Press Trust of India.

“India is set to receive $12 billion this year as against $8.3 billion in 2005-06,” Nath said in New Delhi.

For July, FDI inflows increased by a record 259 per cent to $1.16bn compared with $324 million in the same month a year earlier, Nath said. This total did not include reinvested earnings.

Foreign investors have been lured by India's strong economic growth.—AFP