MALAYSIA was the second largest investor in India amongst Asean countries, after Singapore, in 2008.
India's leading trade body, the Federation of Indian Chambers of Commerce and Industry (FICCI) in its recent report said,
Singapore's foreign direct investment (FDI) inflow into India jumped to RM11.69 billion last year from RM1 billion in 2005.
Though Malaysia was a distant second, the FDI inflow of RM355 million was a huge increase from the RM16 million recorded in 2005, the FICCI's India-Asean Investment report revealed.
"The interest of these two nations and the others in the Asean region, is expected to receive a boost when India and Asean sign the free trade agreement (FTA) next month.
"This will subsequently move towards a more comprehensive agreement facilitating investment between India and the region," said the FICCI.
Indonesia, which is now increasing its rapport with India - Asia's third largest economy - has overtaken Thailand, another of the country''s trade ally from the Asean bloc.
Indonesia invested about RM18 million last year compared to only RM3 million in 2005 but Thailand's investments dipped from RM17 million to RM9.6 million over the same period, added the report.
Interestingly, another Asean member Myanmar, invested only RM170,000 in 2005 but its FDI into India rose to RM25 million last year.
Inflows from the Philippines dipped and there were no FDIs from Vietnam, Laos, Cambodia and Brunei into India in 2008.
Most Asean investors put their money in information technology, construction,petroleum and gas and in the mining sector.- Bernama
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