New Delhi: Foreign Direct Investment (FDI) inflow increased by 87 per cent to $ 501 million during May compared to $ 268 million in May 2001.

FDI inflow of $ 501 million did not include American and Global Depositories Receipts of Indian companies, which mopped up resources from overseas markets.

The cumulative FDI inflow was up by 60 per cent to $ 1.89 billion during January-May 2002 as against $ 1.18 billion during the same period last year (2001), an official release said in New Delhi on July 3.

"FDI inflows continue to post a very impressive growth during 2002. This has been achieved at a time when there has been a steep decline in global FDI inflows," it added.

PTI