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FDI inflow likely to touch $5 bn this year
Our Economic Bureau
New Delhi, Oct 11: The inflow of foreign direct investment (FDI) into India is likely to touch $5 billion this year (January-December), commerce and industry minister Murasoli Maran indicated on Wednesday. He was addressing a feedback session for visiting Swiss investors. The session was organised by the department of industrial policy and promotion which comes under the industry ministry. Underlining the priority being accorded to FDI, Mr Maran noted that the initial hesitation to allowing FDI was now a thing of the past and that India today faced import competition with confidence.The new export and import policy, he said, was an important component of the liberalisation package as it reflected the transition of the Indian economy from an era of restrictive controls to one of freedom and growth. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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