FDI Inflows for the current year

Posted by | August 19, 2005 | World | No Comments

FDI inflows will mark a positive trend in the growth of the economy said Mr. Kamal Nath, the Nation’s commerce and Industry minister. He has set an target of about $5bn for the current financial year of 2005-06. This would surpass the previous year achievement of $3.75bn. All the indicators are showing positive trend since the last quarter and this is a ripe time for the foreign investment. The industry contribution to the GDP growth of the country is expected to be about 30% this current year, and the means of achieving this would be through foreign currency inflow. This idealistic plan of the industry contributing in a major way towards the growth of the economy is undertaken by The National Manufacturing Competitiveness Council, headed by V Krishnamurthy and set up under the ministry of commerce. The goal of this council would be attract more foreign investment and more foreign technology collaboration. If this goal is achieved then India would become one of the leading Country to attract foreign investment. At present India is at the tenth place among other Asian countries that attract majority of the foreign Investment.

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