PM commends Nath on FDI inflows in 2006-07
Complimenting Commerce and Industry Minister Kamal Nath for the 19 billion dollar foreign direct investment inflows in 2006-07, Prime Minister Manmohan Singh has expressed optimism that current year's target of 30 billion dollars will be met.
By PTI |
NEW DELHI: Complimenting Commerce and Industry Minister Kamal Nath for the 19 billion dollar foreign direct investment inflows in 2006-07, Prime Minister Manmohan Singh has expressed optimism that current year's target of 30 billion dollars will be met.
In his letter to Nath, Singh has commended the minister and his team on achieving the performance in 2006-07, a Commerce Ministry statement said on Friday.
Singh has expressed optimism that the minister and the Department of Industrial Policy and Promotion would be able to cross the FDI target of 30 billion dollars during the current year, the statement said.
In 2005-06, FDI equity inflows in India were 5.5 billion dollars, which grew to 16 billion dollars during 2006-07. If the retained earnings reinvested by foreign investors in India in 2005-06 are added, the gross FDI would work out to 7.7 billion dollars and in 2006-07 to 19 billion dollars.
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