| Date: |
16-08-2011 |
| Subject: |
Big Deals To Push India FDI to $35b in 2012 |
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NEW DELHI Foreign direct investment (FDI) in India may cross $35 billion in 2011-12 as against $19.4 billion in the previous year on account of major deals between the Reliance group and British Petroleum.
“I would expect the FDI to cross $35 billion, big investment projects like RIL-BP deal and Posco would help in pushing the numbers,” a senior official said.
Foreign investors are confident of India’s economic growth even during the peak of the global economic crisis as the country’s GDP registered a healthy growth rate, the official said.
In the April-June period, FDI went up by 133 per cent to $13.44 billion from $5.77 billion the previous year.
In May and June, foreign direct investment in the country jumped 111 per cent and 310 per cent, respectively, to $4.66 billion and $5.65 billion, respectively.
“Going by the growth rate in the last few months, we may touch $35 billion,” KPMG Executive Director Krishan Malhotra said.
Source : omantribune.com
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