India only bright spot amid global mkts: World Bank India chief

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Welcoming the relaxation in foreign direct investment (FDI) norms, World Bank’s Country Director in India Onno Ruhl said it is important for the government to open up the economy as it needs investment.

India continues to be the only bright spot among global markets, said World Bank’s Country Director in India Onno Ruhl, in an interview to CNBC-TV18. Welcoming the relaxation in foreign direct investment (FDI) norms, he said it is important for the government to open up the economy as it needs investment.

India did really well last year in garnering FDI, which for the first time exceeded that of China.

Although future FDI depends a lot on global environment and India’s share of investment in the global environment, he says, hopes are that India will certainly do well.

Source: Moneycontrol.com

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