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9, December 2006 Pragati Maidan, New Delhi.
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Foreign Direct Investment into the country for the current fiscal was expected to touch $12 billion, growing 120% compared with its inflow last year, commerce and industry minister Kamal Nath said in a leading financial daily. Addressing the media on the sidelines of the ongoing CII Partnership summit, the minister said, “FDI inflow to the country between April to November was $7.3 billion, growing 117% compared with $ 3.5 billion in the corresponding period in the previous year. We hope it will touch $12 billion, growing 120% for the year.” After including retained earnings worth $3 billion, the FDI inflow would be $15 billion for the year, he said, adding the country witnessed the fastest growth in FDI inflow during the current year. “This is an indication of the growing confidence in India and its government polices,” he said. On the WTO talks, he called for the removal of “structural flaws” in global agricultural trade.
Date: 18-Jan-2007
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