Nov 3, 1999|
FDI inflows top US$ 3.2 bn
According to newspaper reports, the foreign direct investment (FDI) inflows into the country during the January-September 1999 period have amounted to US$ 3.28 bn that is marginally higher than the FDI inflows recorded in the whole of the last calendar year.
The news comes as a bit of a surprise. The Indian economy has not had a smooth ride this year. The year began with the Indian economy struggling to shake of the recession. This was followed by the fall of the Indian central government, the war at Kargil, the military rule in Pakistan and finally the general elections in India. All these factors increased the uncertainties associated with the Indian sub continent. However, investors seemed to have bet on India's future rather that its existing state.
Although the FDI inflow is nowhere near the targeted amount, it nonetheless highlights the underlying vibrancy of the domestic economy. With the economy expected to gain momentum over the coming months, FDI inflows can be expected to post significant growth.
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