The ongoing global financial crisis, becoming grimmer day by day, can adversely hit India's foreign direct investment target of USD 35 billion for the FY09. Lowering the earlier estimates, Commerce and Industry Minister Kamal Nath said on Thursday that India can mange to get FDI worth USD 30 billion foreign investment under uncertain conditions of financial world.

Mr. Nath said that government would not change 49 percent cap for foreign direct investment in single-brand retail.

The country received FDI flow of USD 19.7 billion in April- November lower than FDI infusion of previous year due to recession in US and European countries. The scenario changed after September, at the beginning of slowdown, when FDI slipped to USD 1.4 billion. The country just received USD 1 billion FDI in November 2008.

Experts believe that global slowdown would adversely hit FDI in India and the country is unlikely to achieve FDI target of $35 billion in FY09. ICRIER Director Rajeev Kumar said, "We are certainly not going to meet the target ... Even FDI inflows could be weaker in the next fiscal as well."