Investors across world eager to invest in India: Arun Jaitley

Describing India as an island of growth amid a gloomy global fiscal scenario, finance minister Arun Jaitley said on Thursday that owing to a significant increase in foreign direct investment (FDI) in a host of sectors, there is “eagerness” among investors from across the world to invest in the country.

Replying to a discussion on the Supplementary Demand for Grants (general) of Rs 1.03 lakh crores for the current financial year in Lok Sabha, which were later passed, the finance minister said that with the opening of the highways, ports, energy and power sectors, states are actually competing among themselves to invite global investors in their respective regions.

He assured the lower house that the government will maintain economic growth and tax buoyancy, and keep the budgetary fiscal deficit within permissible limits.

The finance minister said that the country had been growing rapidly in the last two years and hopefully this year too, the economic growth will be good.

Owing to an overall growth in the credibility of the nation, investments in the long run will also go up, Mr Jaitley added amid applause from the treasury benches.

He admitted that owing to global economic stress, Indian economy faced challenges like sluggish trade, which has shrunk in the last 18 months, and domestically the bad monsoon of the past two years also affected the economic growth.