Corporates meeting norms to get banking licence: FM
decisions and changes in the run-up to the polls. Chidambaram expressed confidence that foreign investment flows into India will improve after these roadshows which have shown that India has enormous goodwill.
Chidambaram said during the meeting in London, investors expressed reservations over political stability and capacity of the government to take reforms forward.
“I assured them that the polls are 15 months away and that the Budget that will be presented in February will be a responsible Budget, that we will implement many of the decisions and changes in the run-up to the polls,” he said after the meeting.
Chidambaram said there is no reason for investors to doubt that “in the run-up to the polls, we will be anything but responsible”. The finance minister said after the roadshows in the four cities “there is enormous interest in India. There is enormous goodwill for India, that India must get back to the high growth path and they want us to recapture what we achieved between 2004 and 2009. I am very positive and I am very hopeful”.
Maintaining that foreign direct investment (FDI) are robust, he said figures till October show that it continue to be good. “But I think after these road shows in Hong Kong, Singapore, Frankfurt and now in London, I think FDI interest will improve and FDI flows will improve,” he said.
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