Foreign investment in India rose by USD 22.7 billion in the quarter ending December 2010 to USD 628 billion, mainly on account of increase in portfolio investment and FDI.

Total foreign fund inflows, including FDI, portfolio investment and external commercial borrowings (ECB), rose to USD 628.6 billion on December 31 from 605.9 billion during the end of September, according to RBI data.

Direct investment into the country went up by USD 6.2 billion to USD 198 billion.

Portfolio investment in the country during the quarter also grew by USD 7.6 billion to USD 171.7 billion over the previous quarter.

Liabilities in the nature of trade credits, loans and currency and deposits cumulatively increased by USD 9 billion to USD 258.9 billion due to availability of overseas funds at substantially lower interest rates than in domestic markets.

Loans to Indian companies went up by USD 5.

PTI