• Corporate
• Markets
• Info-Tech
• Marketing
• Money & Banking
• Agri-Biz & Commodities
• Industry & Economy
• Logistics
• Government
• Opinion
• Variety
• Corporate Results
• Columns
• States
• Web Extras
• Index

• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

• Rates

• Ports

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Subscription

• Business Line

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

NEW DELHI: The government on Monday said the $35-billion FDI target for this fiscal will be achieved despite the global economic slowdown and invited investors in public-private-partnership for infrastructure projects. “FDI during 2008-09 will be $35 bi llion ... We were planning $40 billion but for the events (slowdown),'' said Mr Ashwani Kumar, Minister of State for Industry.

He emphasised on the need for more FDI, especially in the infrastructure sector. “We are open to any suggestions, which will promote more FDI. We need in the PPP mode large dose of FDI to supplement our domestic capital commitment to large infrastructur e projects as we intend to spend $500 billion on infrastructure development by 2012 an some part of it has to come in the form of FDI,'' he said. FDI inflow of $14.6 billion in the first five months of 2008-09 showed an impressive growth of 124 per cent over the same period last year. Earlier, in October the government had expressed optimism saying India would exceed its target of $35 billion this fiscal. Sectors that attracted maximum FDI in 2007-08 were services, telecom, housing, construction activ ities, real estate, electrical equipment, computer software and hardware.

Mauritius continued to be the top investing country in India during 2007-08, with inflows from that country more than doubling to $1.6 billion from $578 mn in 2006-07. – PTI

Prev: ITC net up 8.70% at Rs 903 cr in Q3
Next: Sugar futures up on speculative buying, lower output

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line