Growth to pick up, room for more FDI: Chidambaram
India's economy is capable of absorbing $50 billion in foreign direct investment per year, Finance Minister P. Chidambaram said, adding that the government is committed to reforms to tackle a large current account deficit.
Addressing a news conference during a visit to Tokyo promoting India as investment destination, Chidambaram also reiterated that growth in Asia's third-largest economy was expected to accelerate in the current fiscal year to March 2014.
"FDI flows into India are quite positive... think we can absorb, easily absorb $50 billion of FDI every year into India," said Chidambaram. Read More