Post-Mumbai, India still a safe investment bet: Germany

December 12th, 2008 - 10:34 pm ICT by IANS  

New Delhi, Dec 12 (IANS) Rejecting speculation about India’s dwindling appeal as a business destination in the wake of the Mumbai terror attacks, Germany Friday said that this country remained “a safe place for investment” for European countries that are facing a global economic crunch. “India remains a safe conduit for investment,” visiting German Interior Minister Wolfgang Schäuble told reporters here when asked whether the Mumbai terror attacks will affect foreign investment in India.

“We have a serious economic crisis worldwide. We face a very difficult economic and investment climate,” he said while alluding to the global economic downturn that has adversely affected leading European economies like Germany’s.

The Nov 26 Mumbai terror strikes that killed 179 people, including 26 foreigners, sparked speculation about foreign investment drying up in India due to its exposed vulnerability to terror attacks.

The global economic downslide is, however, prompting Western companies to look beyond terrorism to India’s projected growth of 7 percent next year and a burgeoning middle class market.

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