Priyanka Chaturvedi

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Posts Tagged ‘Economy

So who says the world is losing confidence in investing in India?

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No I don’t say it read for yourself the data compiled by the Department of Industrial Policy and Promotion (DIPP).  This particular news story caught my interest while catching up on news on the web http://t.co/mHK4ULGI . To prove my point here’s another link a survey by Ernst&Young http://articles.economictimes.indiatimes.com/2012-01-30/news/31005696_1_fdi-inflows-total-fdi-attractiveness-survey

Some figures: Mar 2011 : India’s FDI inflows was worth USD 1.07 billion and the story in Mar 2012? It stands at USD 36.50 billion. That is an eight fold increase in FDI! The month of March itself attracted inflows worth USD 8.1 billion in the country. A great news for the country, for the economy.

But again it is something which one will not hear everyone talking about as it goes against the topic of the season- India’s doomed economy, policy paralysis, corruption, inept government etc. It will be buried because it speaks about something positive about the nation. S&P downgrading India ranking was BIG news but of course this kind of new story about India attracting FDI goes against the news trend. 🙂

Which are the areas that are attracting inflows in the Mar 2011 – Mar 2012 period?  As per a DIPP official it was in the services sector, pharmaceuticals, telecom, construction, power and metallurgical industries.

It should be a matter of great pride that despite the negativity, the gloom and doom scenario that is being projected the country is steadily managing to attract foreign inflows. The world hasn’t lost its confidence in our country and these figures prove it.

Written by Priyanka Chaturvedi

May 10, 2012 at 11:53 am

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