New Delhi, Nov 23 (PTI) Foreign direct investment in India stood at just USD 15.97 billion during the January- September, 2010, period, down 26 per cent vis-a-vis the same period last year, as per Industry Ministry data.

In January-September, 2009, the country attracted Foreign Direct Investment (FDI) worth USD 21.44 billion.

The countries that pumped the maximum foreign capital into the Indian economy during the nine-month period were the Mauritius, Singapore, US, UK, Netherlands, Cyprus, Japan, Germany and France.

As per an expert, the main reason for the decline in foreign inflows was the sluggish recovery of major markets like the US and Europe.

"The sluggish economic recovery in countries like the US and Europe could be one of the major reasons for FDI slowdown in the country," Rakesh Mohan Joshi, an international trade expert with the Indian Institute of Foreign Trade (IIFT), said. FDI slowdown signals reduced foreign investment inflows as major markets' sluggish recovery weighs on investor appetite. Foreign direct investment into India fell substantially during January-September 2010, declining by about twenty-six percent versus the same period the prior year, producing materially lower aggregate inflows. The largest source jurisdictions for the period were Mauritius, Singapore, the United States, the United Kingdom, the Netherlands, Cyprus, Japan, Germany and France. An international trade expert identified sluggish recoveries in major markets such as the US and Europe as a primary reason for the reduced foreign investment demand and the FDI slowdown.