New foreign investment norms to increase inflow: Kamal NathFebruary 12th, 2009 - 1:14 pm ICT by IANS
New Delhi, Feb 12 (IANS) The government has rationalised the foreign investment norms as there is a tightening in the global markets, Commerce Minister Kamal Nath said here Thursday.
“Government has rationalised calculation of FDI (foreign direct investment). Because of this, there will be further inflow of investment in India,” Kamal Nath told reporters on the sidelines of the India Carpet Expo.
“I believe the government will do whatever is possible to prop the economy,” he said.
Referring to the slowdown in the US and Europe, Kamal Nath asserted: “But we will be able to maintain a GDP growth at 7 percent.”