The Government on Tuesday said it expects foreign direct investments in the country to touch $25 billion by 2008-09 from $16 billion at present.
"We are expecting exponential growth in FDI. It is expected to reach $25 billion by 2008-09," Minister of State for Industry Ashwani Kumar said here at the Engineering Export Promotion Council Western Region Award Function.
The country has achieved the highest FDI in 2006-07 at $16 billion, he said.
FDI can play a complimentary role in generating higher efficiency in areas of power generation, food processing and oil and gas, Kumar said.
EEPC, the apex body of engineering exporters from the country, expects growth of 30-35 per cent in engineering exports in 2007-08.
"We are targeting $35-36 billion exports of engineering goods and services during fiscal 2007-08," Council's Chairman Rakesh Shah said.
Exports in this sector over the last couple of years have been growing at over 20 per cent and account for 21 per cent of the country's total exports, he said.
"Engineering exports is the largest foreign exchange earner for the country," he said.
The western region exported engineering items worth $8.14 billion in 2005-06, a growth of 23.5 per cent over 2004-05, he said.
SOURCE : DNA MONEY
"We are expecting exponential growth in FDI. It is expected to reach $25 billion by 2008-09," Minister of State for Industry Ashwani Kumar said here at the Engineering Export Promotion Council Western Region Award Function.
The country has achieved the highest FDI in 2006-07 at $16 billion, he said.
FDI can play a complimentary role in generating higher efficiency in areas of power generation, food processing and oil and gas, Kumar said.
EEPC, the apex body of engineering exporters from the country, expects growth of 30-35 per cent in engineering exports in 2007-08.
"We are targeting $35-36 billion exports of engineering goods and services during fiscal 2007-08," Council's Chairman Rakesh Shah said.
Exports in this sector over the last couple of years have been growing at over 20 per cent and account for 21 per cent of the country's total exports, he said.
"Engineering exports is the largest foreign exchange earner for the country," he said.
The western region exported engineering items worth $8.14 billion in 2005-06, a growth of 23.5 per cent over 2004-05, he said.
SOURCE : DNA MONEY
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