Remain bullish on long-term growth, Pranab tells FIIs
With high inflation and rising oil prices casting a shadow on India’s growth story, Finance Minister Pranab Mukherjee on Tuesday asked institutional investors, including foreign entities, to remain bullish on the long-term growth trajectory driven by next generation reforms.
In a meeting with investors, Mukherjee asked them not to be bothered by short-term statistics and assured them of building a consensus on a hike on foreign direct investment (FDI) by private insurers to 49 per cent from the existing 26 per cent and opening up the multi-brand retail sector for foreign investment.
Mukherjee said next generation financial sector reforms like widening and deepening of securities markets, reducing transaction cost in the markets, liberalising foreign capital inflows and strengthening regulatory architecture have already been initiated, people who attended the meeting told Business Standard. For more visit: Business-Standard
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