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2016-07-03 ArtNo.45787
◆Sky is the limit for investments in India: Jaitley
 【Beijing】Sky is the limit for investments in India and its economic growth is sustainable because it has a lot of distance to cover, Finance Minister Arun Jaitley said on the 25th of June. "It (growth) is sustainable for the reason that India has lot of distance in terms of economic growth to cover," Jaitley, who is here on a five-day visit, told Chinese state-run CCTV in an interview. In view of this a lot of potential exists for investments in infrastructure, urbanisation, housing, power, water and social sector, he said. "For us today sky is the limit. That is the kind of investments we require. Therefore a lot of economic activity has to go into it. Currently public finances are taking the lead in doing so. I am sure in due course as the economy is picking up, private sector will also boost this," Jaitley said. ○China leaps 10 spots with $956m FDI in India  【New Delhi】China has jumped 10 spots in terms of foreign direct investment (FDI) in India during the first two years of the Narendra Modi regime, pumping in $956 million in sectors including automobiles, metallurgical industry, electrical equipment and power. The country is ranked 18th on the list of cumulative investments made between April 2000 and March 2016 at present, but it is close to top ten if just the last two years are considered. Since 2014, it has outpaced Hong Kong, Italy, Caymen Islands and South Korea, all of which rank higher in cumulative investments made between April 2000 and March 2016. "There is a pull factor which is favouring India since it has been a better performing economy. China is now investing in newer sectors like e-commerce and telecommunications and also manufacturing," said DK Joshi, chief economist of Crisil. China had committed investments of over $20 billion in India in the next five years during President Xi Jinping's visit in September 2014. "China has run into problem of growth due to over investment in infrastructure and other markets. India is a good opportunity for them in the present scenario," said Madan Sabnavis, chief economist, Care Ratings. With a GDP growth rate of 7.6% during 2015-16 India is seen as the bright spot in a bleak global economy. 【News source】 Sky is the limit for investments in India: Jaitley China leaps 10 spots with $956 million FDI in India ○One world： The aim of SEAnews ◆Recruitment of Ad-SEAnews CanvassersYour Comments / UnsubscribeSEAnews MessengerSEAnewsFacebookSEAnewsGoogleSEAnews eBookstoreSEAnews eBookstore(GoogleJ)SEAnews world circulation |
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