Mumbai: India is the 10th major recipient of foreign direct investment among developing countries but lags far behind neighbouring China in terms of investment inflows, according to the latest report of the United Nations Conference on Trade and Development (UNCTAD).

FDI inflows to India stood at $5.5 billion in 2004 while China led the pack with $60.6 billion of FDI inflows, followed by Hong Kong with $34 billion and Mexico with $18.7 billion, the report said.

FDI flows into the developing countries totalled $275 billion in 2004 of which the top 10 cornered $189.8 billion.

India did not figure among the top 10 developing countries with the largest FDI inward stock. Inward stock of FDI in India as a percentage of GDP, however, has risen to 5.9 per cent in 2004, from just 0.5 per cent in 1990.

China, on the other hand, saw its FDI stock as a percentage of GDP grow to 14.9 per cent in 2004, as against 5.8 per cent in 1990, the report said.

Hong Kong had an FDI stock of $456.8 billion, China $245.5 billion and Mexico $182.5 billion.