The Financial Post reports in its Thursday edition that foreign direct investment in India surged last year, driven largely by Alphabet's data-centre project, though a decline in greenfield investments signalled a weaker investment outlook, according to the United Nations' trade agency. A Bloomberg dispatch to the Post says that total FDI rose 44 per cent to $55.24-billion last year, the UN Trade and Development said in its annual World Investment Report (all figures U.S.). The increase was led by the $20.5-billion Alphabet project and Polish developer Hynfra's $5.7-billion green hydrogen investment, both in Andhra Pradesh. The figures suggest foreign inflows were driven by a handful of large projects rather than broad-based corporate spending. Domestic private investment, critical for joint ventures with foreign partners, has remained subdued, while India has lagged other markets in attracting artificial-intelligence-related investment. The inflows are significant for India; policy-makers are seeking stable sources of foreign capital to help finance the country's investment needs and narrow its current-account deficit. As the world's third-largest oil importer, India remains vulnerable to swings in energy prices.