India hopes to attract $125 bn foreign invstmt in infra: FM | Latest News India - Hindustan Times
close_game
close_game

India hopes to attract $125 bn foreign invstmt in infra: FM

None | ByPress Trust of India, Paulo Alto, California
Oct 25, 2006 11:13 PM IST

India has expressed hope that it would attract 125 billion dollars of foreign investment, particularly in infrastructure.

India has expressed hope that it would attract 125 billion dollars of foreign investment, particularly in infrastructure, to assist the economy in sustaining a high growth rate.

"That is (attracting 125 billion dollars of investment) is entirely within our hands to make it happen," Finance Minister P Chidambaram said in a speech at Stanford University on Tuesday.

HT Image
HT Image

Prime Minister Manmohan Singh had said earlier this month that the Indian economy needed 320 billion dollars of investment for infrastructure development in the next five years.

Hindustan Times - your fastest source for breaking news! Read now.

Chidambaram said more public investment is needed to keep up the growth rate of 8 per cent a year.

He called for greater public investment in agriculture and said India faces serious problems in the pricing and distribution of electricity.

"This requires a mix of right policies, new initiatives and better governance. It also requires funding the resources to finance such growth without compromising on financial stability and fiscal prudence," he said.

Investment in education and health care, along with productivity gain are among measures needed to maintain the pace of growth, the Finance Minister said.

"We have miles to go before we rest," Chidambaram was quoted as saying in a Bloomberg report.

Unveiling Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!

Get Current Updates on India News, Election 2024, Arvind Kejriwal News Live, Bihar Board 10th Result 2024 Live along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, March 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On