Apr-Dec FDI at $18.7 billion: Kamal Nath

Apr-Dec FDI at $18.7 billion: Kamal Nath
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First Published: Mon, Jan 19 2009. 01 37 PM IST
Updated: Mon, Jan 19 2009. 01 37 PM IST
New Delhi: Foreign direct investment into India during April-December doubled from a year ago to $18.7 billion, Commerce and Industry Minister Kamal Nath said on Monday.
India is grappling with the impact of the global economic slowdown and is trying to woo foreign investment to help sustain growth.
“India will continue to be a magnet for FDI,” Nath told a business conference.
The minister also said a sustained decline in inflation in recent weeks has given the Reserve Bank of India leverage to raise liquidity.
He said the government may announce further stimulus after the end of January.
On Saturday, Prime Minister Manmohan Singh told a conference in Mumbai that the inflation rate was expected to decline further and that would provide ample flexibility for monetary policy.
The RBI reviews monetary policy on 27 January and some analysts say it may cut rates again to boost growth. Others argue it may prefer to wait and assess the impact of its previous aggressive rate actions.
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First Published: Mon, Jan 19 2009. 01 37 PM IST
More Topics: FDI | India | Kamal Nath | Trade | Revenue |