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Global investors upbeat about India, investments growing: FinMin
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SME Times News Bureau | 09 Sep, 2021
As the economy recovers from the impact of the second wave of the
pandemic, the Finance Ministry has said that global investors are
optimistic and upbeat about the Indian economy and are coming in with
more investments.
The Monthly Economic Review for August 2021
released by the Department of Economic Affairs (DEA) on Thursday said
that sanguine economic prospects continue to be catalysed by
effervescent external sector indicators.
"Buoyed by improvement
in economic indicators post ebbing of the second wave, global investors
remain upbeat about India's growth story contributing further to FDI and
FPI inflows," it said.
The ministry noted that India's foreign exchange reserves surged to a record high of $633.56 billion as on August 27, 2021.
It
said that provisional GDP estimates, now available for April-June
quarter (Q1) of FY 2021-22, reaffirm India's resilient V-shaped recovery
despite a more brutal second wave.
"Having posted an almost 180
degree turnaround from a sharp contraction in Q1 of FY 2020-21, to
recover more than 90 per cent of the pre-pandemic Q1 output of 2019-20,
the V-shaped economic recovery remains intact."
The momentum of India's economic recovery witnessed since the second half of FY 2020-21 did get disrupted by the second wave.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 25 Oct, 2021 |
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