Centre, Ficci to form JV to facilitate FDI flow

Centre, Ficci to form JV to facilitate FDI flow
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First Published: Thu, Sep 10 2009. 11 11 PM IST
Updated: Thu, Sep 10 2009. 11 11 PM IST
New Delhi: The Union government along with industry lobby body Federation of Indian Chambers of Commerce and Industry (Ficci) is to set up a not-for-profit company dubbed Invest India to facilitate the flow of foreign investment into the country.
Invest India “will be the first point for FDI (foreign direct investment) into the country”, Anand Sharma, union minister of commerce and industry, said at a press conference.
At the same press conference, Sharma also said India received FDI inflow of $3.51 billion (around Rs17,000 crore) in July, higher by 56% in relation to the corresponding period of the previous year.
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First Published: Thu, Sep 10 2009. 11 11 PM IST