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NEW DELHI, Sept. 18 - EVEN as foreign direct investment (FDI) grew last year by 18 per cent, faster than other economic aggregates like world production, capital formation and trade, reaching a record $1.3 trillion, such FDI flows are likely to decline this year.
Disclosing this in its World Investment Report (WIR, 2001) which was released today, the United Nations Conference on Trade and Development (Unctad) said the global expansion of investment flows was driven by more than 60,000 transnational corporations (TNCs) with over eight lakh affiliates abroad.
Developed countries remain the prime destination of FDI, accounting for more than three-quarters of global inflows. Cross-border merger and acquisitions (M&As) remain the main stimulus behind FDI and they are still concentrated in the …