FM debunks fears of FII pull out
22 Oct 2005
New
Delhi: Finance minister, P. Chidambaram, made light
of fears of a possible large-scale pullout of portfolio
investments by foreign institutional investors (FIIs)
and expressed confidence that large FII inflows would
continue.
"If
there are inflows (from FIIs), there will be periods where
there are outflows. We must be able to take both inflows
and outflows in stride. I am confident that we would continue
to get large FII inflows," Chidambaram said in his
address at the Assocham annual session here.
He
said that FII investment so far in the current fiscal
stood at $4.3bn. For the calendar year 2005, the Minister
said that the FII investments level is already $8.2bn.
Chidambaram
said that the FDI inflows during April-August 2005 stood
at US$1.909bn. This, he said, represented a 20 per cent
jump over the level recorded in the same period last year
and the highest since 2000-01.
For
the January-August 2005, he said that FDI inflows stood
at $2.573bn,
a 14 per cent growth over last year and the highest since
2000-01. "The flip side of course is this is a fraction
of what China attracts and poised to attract in future
too," he said.
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