Amidst global recession fears, India smiles with record foreign investments
By- Correspondent | Date- August 9, 2011
As fears of another big and bad recession due to US economic turmoil spreads across the globe, India has enjoyed the maximum foreign direct investment (FDI) in 11 years!
Concerns of continuously rising rate of inflation, high interest rates and other internal worries had investments really difficult in India. Barring this, the foreign direct investment (FDI) in June rose 310% year-on-year to $5.7 billion, the highest monthly in last 11 fiscal years. It rose by over four times in June to reach $5.65 billion, compared to $1.38 billion a year ago.
FDI inflows were also very high in May 2011, estimated at $4.66 billion, which was double the level witnessed in May 2010.
Though there is overselling witnessed in the market and all sectors due to current fears, India still can look forward to some more huge foreign investments. However it is not certain if these investments can bring hope to the investors selling out more and more with the fears surmounting.
The title of the article is wrong. It should be “…… rich Indians smile…..”. The politicians & others with their tons of Swiss Bank money, their smile is perpitual–no matter what happens where. It is the common Indians who are weeping at this gloomy scenerio.