The India story is getting bigger for foreign investors.
Foreign direct inflows during December 2006 were estimated at a little over $2 billion compared with $350 million during the corresponding period in 2005.
Commerce and industry minister Kamal Nath said the inflows during December were the highest ever registered into the country during a single month.
With strong inflows in December, the cumulative investment during the first none months of the current fiscal are estimated at $9.3 billion 166% higher than the $3.5 billion FDI inflows during April-December 2005.
Buoyed by the investment trend during the first three quarters, Nath was confident of reaching the $12 billion target for the current financial year, as against $5.5 billion in 2005-06. "The present growth rate is much higher but let's be conservative and keep the target at $12 billion," he said.
