Foreign investment in India gets a booster from IMF and Deloitte reports

Foreign investment in India gets a booster from IMF and Deloitte reports

Foreign investment in India is expected to receive a boost from investors including non-resident Indians (NRIs), on the back of the encouraging Deloitte Touche Tohmatsu and the US Council on Competitiveness combined report titled, "2010 Global Manufacturing Competitiveness Index". The report has ranked India second only to China globally and followed by South Korea. India is said to be gaining and getting a better foothold on the same over the next five years too. The factors being allocated for stronger performances are India's rich talent pool of scientists, researchers, engineers and its large, well-educated English-speaking workforce and democratic regime make it an attractive destination for manufacturers. Already, robust industrial output augmented by a good performance by manufacturing, especially the capital and consumer goods sectors, has put up a double-digit growth figure of 11.5 per cent in May 2010.

The International Monetary Fund report on India's US$ 1.2 trillion economy too has raised the sentiment on investing into India. The IMF report has added credence owing to being a report generated by an independent agency monitoring the growth of the Indian economy. The positive figures of achieving 9.4 per cent growth in calendar year 2010 has indeed boosted the investor sentiment.

NRI investments in India are as it is on the rise owing to better job security in the Gulf, the euro market crisis and better returns in Indian equity markets. Investment advisors are asking prospective investors to include India in their investment portfolios, backed by visible strengths in the Indian markets.

Many stocks that have received NRI investment interest in the past few months have been Uttam Galva Steel, Ackruti City, Zensar Technologies, majors such as Larsen & Toubro etc. Several industry and market experts feel that over the past few years, there has been a noticeable increase in the confidence in India and the Indian economy with respect to the NRIs. Most of the NRIs believe that India is the safest bet and NRIs in the Gulf are now diverting most savings to India. The NRI inflows have continued to be strong.

Foreign exchange reserves too showed a positive trend and were up to US$ 278.267 billion for the week ending July 2 by US$ 1.287 billion, on the back of revaluation gains and the increase in the value of gold reserves.

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