Ieg Sees Surge In Industrial Growth

Forex reserves are expected to go up and industrial growth is likely to improve in the coming months. Exports, however, will continue to show a lacklustre performance, according to the Institute of Economic Growth (IEG).

"With the pronounced recession in the industrial countries and in most of the emerging economies, India along with China have become better investment markets for portfolio capital. The expected increase in the foreign portfolio investment, followed by the recovery in the Indian stock market would increase forex reserves in the coming months," an IEG report said.

Forex levels are expected to be around $ 47 billion in the coming months.

The monthly monitor for November released by the institute also says that the index of industrial production (IIP) seems to have touched rock bottom and can only recover in the coming months.

The increase in investment limits for foreign institutional investors, the government