India's foreign direct investment dropped in February to $1.4 billion, almost one-fourth of the inflows witnessed in the year-ago period, under the impact of the global credit crunch.

While the cumulative FDI inflows of $25.35 billion for April-February 2008-09 were higher than the $20.13 billion a year ago, the country has been witnessing a steep fall in foreign investments since October 2008, according to official figures. In February 2008, the foreign investment was $5.67 billion.