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Wednesday, October 08, 2008 (16:28:23) |
| Tags : Economic crisis, recession, financial crisis |
India can tide over economic crisis: Kamal Nath |
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| New Delhi: Stating that India with its strong economic fundamentals could tide over the current global financial crisis, Commerce and Industry Minister Kamal Nath on Wednesday said that the country received foreign direct investments (FDI) worth $2.25 billion and $2.32 billion in July and August respectively. "The huge growth in FDI in India despite global economic slowdown shows how sound and resilient our economy is," Kamal Nath said, adding that there was nothing to worry at all. "In August, FDI growth was 124 per cent and 219 per cent in July this fiscal, which is an indicator to the fact that India with its strong fundamentals can tide over global financial crisis," he said. Referring to inflation, which was 11.99 per cent for the week ending on September 20, the Minister said that it is easing and would continue to moderate. (IANS) |
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