English | دری

India opens more sectors to foreign investment

in International Business

India opens more sectors to foreign investment

In a bid to revive the economy, the Indian cabinet has approved 49% foreign direct investment in insurance companies and opened the pension sector for the first time ever to foreign investors.

The citizens responded to the reforms with protests on the streets. The opponents say the measures will hurt the poor.

India’s Finance minister P Chidambaram promised more reforms in banking, insurance and other sector and said the country would “return to 9% growth” since certain “fundamental constraints are addressed”.

The latest forecasts from economists at the Asian Development Bank are less optimistic, however, suggesting that India’s growth will slow to 5.6% this year, before picking up to 6.7% in 2013.



Related Articles

Turkey to receive electricity from Turkmenistan via Iran

As part of its efforts to become the region’s largest supplier of electricity by 2020, Turkmenistan intends to supply electric power

“Baby recession” to hit Eurozone

High unemployment and tough austerity measures have brought some Eurozone economies on the verge of a potential “baby recession”. Unable

Russia’s roubel hits its lowest in 16 years

The Russian roubel has lost more than half of its value against the dollar this year, with hitting its lowest

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*