If the data on the actual inflow of foreign investment is any indication, the Government’s faith in non-resident Indians (NRIs) to come to the rescue of their country of origin seems to have paid dividends. According to the latest official data available on foreign direct investment (FDI), the NRIs, as a group, have the largest share in the actual inflows of foreign investment.

Bajaj Auto plans to manufacture four-wheelers

Bajaj Auto is seriously considering entering into the manufacture of four-wheelers. The company was negotiating with a couple of European and Japanese firms for a possible tie-up, the Bajaj Auto President, Mr. Madhur Bajaj, told newspersons. An announcement would be made in the next three months. Mr. Bajaj, however, refused to identify the multinationals with which his company was engaged in talks. He said the four-wheeler division would aim the lower end of the market. The company planned to manufacture small cars as it felt the market for luxury cars had enough players.

Caution against let-up in reforms

The Senior Advisor to the World Economic Forum, Mr. Claude Smadja, has called on the Government to build a constituency for the reforms process. “For this you can tap the huge fledging middle class which is there in your country,” he said. Mr. Smajda was briefing participants at the World Economic Forum-India Meeting held here on Sunday in partnership with the Confederation of Indian Industry (CII). While complementing the Government for achieving much in the past 40 months since the country introduced reforms, he cautioned against any let-up or complacency.

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