Global investors are expected to remain positive on India and bring USD 30 billion foreign direct investment into the world’s second-fastest growing economy in 2009-10 even when the world economy is facing a severe credit squeeze.
India is estimated to have received FDI of USD 27.5 billion in 2008-09,up from USD 24.57 billion in the previous year.
“The overall outlook (for 2009-10) remains positive,” Joint Secretary in the Department of Industrial Policy and Promotion Gopal Krishna told reporters on the sidelines of a function organised by Booz & Company and AMCHAM in New Delhi.
However,inflows in March 2009 declined to USD 2.5 billion from USD 4.44 billion in the same month last year.
Though the cumulative increase for 2008-09 is small,it is considered a positive development,given the fact that the global financial crisis is the worst.
Gopal Krishna said if reinvestment by foreign corporations is taken into account,FDI for 2008-09 was USD 37.5 billion. This is expected to go up to USD 40 billion in the current fiscal,he said.
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