INDIA REMAINS GOOD BET FOR FOREIGN INVESTORS : DIPP SECY
Even in the midst of a global downturn, India is attracting $ 1 billion FDI in a month, which is "encouraging", department of industrial policy and promotion secretary Ajay Shankar said. Though inflows have dropped sharply after September, the trend has to be seen in the context of the credit freeze in major economies, he said. FDI inflows till September averaged between $ 2.5 billion and $ 3 billion a month. Mr Shankar said India has come a long way in the last five years in terms of winning the confidence of foreign investors. "This (drop in FDI) has to be seen in the context of 2003 - 04," he said. The country received $ 3.13 billion in 2003 - 04 while in 2008 - 09, the monthly inflows averaged above $ 2 billion.
SOURCE : THE ECONOMIC TIMES, NEW DELHI
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