Saturday 7 March 2009

Global financial crisis hampers bid by New Delhi to lure Gulf funds

There could be some hiccups in the flow of large investments from the Gulf to India as Arab investors adjust their priorities in light of the global financial crisis, an Indian minister said.

However, this will be a "temporary phenomenon" because Gulf investors will continue to remain interested in India due to "the strong fundamentals of the Indian economy," Minister of State for Industries Ashwini Kumar told Gulf News.

Before the world econ-omic crisis, the Indian government made serious efforts to persuade Gulf businessmen to invest in India, particularly in big infrastructure projects worth $500 billion (Dh1.84 trillion).

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