Middle-east Arab News Opinion | Asharq Al-awsat

FDI Inflows to India Nearly Double in First Four Months of Year - ASHARQ AL-AWSAT English Archive
Select Page

NEW DELHI (AFP) -India’s booming economy drew a record 2.9 billion dollars in foreign direct investment in the first four months of the fiscal year, nearly double last year’s amount.

“FDI inflows in April-July 2006-07 increased by 92 percent to 2.9 billion dollars from 1.5 billion dollars in the same period of the last fiscal year,” Commerce Minister Kamal Nath told reporters, according to the Press Trust of India.

“India is set to recieve 12 billion dollars this year as against 8.3 billion dollars in 2005-06,” Nath said in New Delhi.

For July, FDI inflows increased by a record 259 percent to 1.16 billion dollars compared with 324 million dollars in the same month a year earlier, Nath said. This total did not include reinvested earnings.

Foreign investors have been lured by India’s strong economic growth.

The economy expanded by 8.9 percent in the first quarter to June after growing by 8.4 percent in the financial year ended March 31, 2006.

Nath said India had received 50.1 billion dollars in FDI since 1991 when the country began liberalising the economy. Of this, 16 billion dollars has come since April 2004.

The figures included both new investment and reinvested earnings, he added.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More Posts

Follow Me:
FacebookGoogle PlusYouTube