`India: Incredible Investment Destination'
21 Jun 2012
The Indian government has come out with a 'fact book' listing the economy's strengths such as a sound banking and financial system and political stability that would make it an attractive investment destination for all.
The finance ministry fact book titled 'India: The Incredible Investment Destination' comes amidst rating downgrades by foreign credit rating agencies and wider criticism over mismanagement of the government's finances.
The country's real GDP is 60 per cent higher than what it was five years ago, while foreign direct investment in the country zoomed 414 per cent to $46.8 billion in 2011-12, according to the fact book.
The Indian economy has its own innate strengths that accrue from a vast domestic market fuelled by ongoing economic liberalisation.
Unlike the Western countries, the country has stable financial system and strong external liquidity position and with a strong financial regulatory framework, is non-susceptible to major risks.
Besides, India as a democratic country, has a highly stable system of governance.
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