Foreign direct investment (FDI) into the country is
expected to touch $30 billion in the fiscal year ending
March 2008, commerce minister Kamal Nath said.
FDI equity flows were $5.5 billion in 2005-06, it increased
almost three times to $15.7 billion in 2006-07. We have
set a target of $30 billion in 2007-08," he told
a business conference, adding, "The liberal FDI policy
pursued by us is aimed at garnering greater foreign investment."
minister said the Indian economy grew 9.2 per cent in
the last fiscal ended March 31, 2007 in line with the
2006-07, the GDP growth was 9.2 per cent, with industry
registering a growth of 11.3 per cent," he said.
achieve a growth rate of 9 per cent per annum over the
next five years starting 2007-08, we need an investment
rate of 35.1 per cent of GDP," he said.