INDIA SURE OF US$30 BLN FDI IN 2009, SAYS MINISTER

NEW DELHI, Jan 19 (Bernama) -- India is optimistic, despite the global
economic slowdown, of pulling in US$30 billion worth of foreign direct
investments (FDI) this year.

"India will remain a magnet for FDI. We expect FDI to exceed US$30 billion
this year. FDI will continue to flow," India's Commerce and Industry Minister
Kamal Nath said at the Partnership Summit 2009 held in Delhi Monday.

He said FDI inflows between April and December last year stood at US$18.7
billion, doubling the previous year's figures, and an indication it would spill
over this year too.

Liberal economic policies and new growth sectors such as pharmaceutical and
engineering were cited as key factors to draw foreign funds to India, forecasted
to grow at about 7 percent this year.

The World Investment Report disclosed India attracted US$32.4 billion FDIs
between 2007 and 2008, compared to only US$4.3 billion between 2003 and 2004.

Outbound investments were also on a healthy track with US$20.4 billion, as
more Indian companies penetrated the global market, added the report.

Nath said one of the biggest advantages of India was its mammoth agriculture
sector, where nearly 650 million people rely on for living.

India would also roll out infrastructure projects, modelled on
public-private partnership, to the tune of US$15 billion over the next 18
months, he added.
-- BERNAMA