Foreign inflows to touch $15bn by fiscal end: Nath

Foreign investments in India are expected to touch $15 billion by the end of the present fiscal, with more overseas firms eyeing good returns from the sub-continent, Commerce and Industry Minister Kamal Nath, said.

While foreign institutional investments (FII) will account for $12 billion, foreign direct investment (FDI) will be to the extent of $3 billion, Nath said.

Speaking on the sidelines of the CII Partnership Summit today, the minister said the overall foreign investments, including FII and FDI, are expected to rise 120% over the previous fiscal.

"During the April-November period, the equity inflow was $7.3 billion, a 117% growth compared to the corresponding period last fiscal ($3.5 billion). Equity inflow is expected to touch $12 billion by the end of the current fiscal," he said.

According to Nath, this is the fastest growth rate of foreign inflows into the country. "It reflects the confidence that foreign firms and companies have in India, which is emerging as a major player," he added.