The country’s economy was capable of absorbing $50 billion in foreign direct investment (FDI) a year, Finance Minister P Chidambaram said on Monday, adding the government was committed to reforms to tackle the large current account deficit. Addressing a news conference during a visit here to promote India as an investment destination, Chidambaram also reiterated growth in Asia’s third-largest economy was expected to accelerate in the current financial year and the economy was expected to grow 6.1-6.7 per cent in 2013-14. “FDI flows into India are quite ...
Growth to pick up in FY14, room for more FDI: FM
Says Indian economy capable of absorbing $50 bn in foreign direct investment per year