Special Contribution: Status of Indian Economy

February 6, 2009 at 2:11 pm

Rajeshwar Parshad Swami
Secretary General
Indian Chamber of Commerce and Industry (ICCI)

At the IBEF Breakfast Session organised during the Annual Meeting of the World Economic Forum at Davos, Mr Kamal Nath, Minister for Commerce and Industry, emphasised that the Indian economy’s fundamentals remained strong and that its growth trajectory would be led by its domestic demand driven growth model.

The foreign institutional investors (FIIs) channelised investments amounting to Rs 2,155 crore (US$ 439.90 million) in debt instruments during the initial trading days of the current year. Significantly, the government has cleared foreign direct investment (FDI) proposals worth Rs 1,277.23 crore (US$ 261.29 million) on January 28, 2009.

Further, Ernst & Young has announced that the opportunities for growth in the Indian infrastructure sector continue to be promising. Meanwhile, India’s growth story in the telecom space continues unabated. The country added 113.26 million new subscribers in 2008, the largest globally.

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Entry filed under: Asia, India, Special Contribution.

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