India can tide over economic crisis: Kamal Nath

October 8th, 2008 - 3:45 pm ICT by IANS  

New Delhi, Oct 8 (IANS) Stating that India with its strong economic fundamentals could tide over the current global financial crisis, Commerce and Industry Minister Kamal Nath Wednesday said 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 told reporters here, adding there was nothing to worry at all.

“In August, FDI growth was 124 percent and 219 percent 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 percent for the week ended Sep 20, the minister said it is easing and would continue to moderate.

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