Growth of Foreign Direct Investment and Economic Development in India

  • P Balasubramanian Associate Professor in Economics, PG and Research Department of Economics, Saraswathi Narayanan College, Madurai
  • S Thangamayan Ph.D., Research Scholar in Economics, PG and Research Department of Economics, Saraswathi Narayanan College, Madurai
Keywords: FDI, defense sector, globalization, IMF, foreign exchange natural, Economic Growth

Abstract

India is the second popular country in the world after China. It is an essential for a country like India to attract more FDI for every sector of the economy. The Government of India in consultation with the RBI decided to follow more liberal attitude towards FDI in core sectors excepts defense sector. Country like India depends on borrowing powers, development assistance grant from international agencies, like IMF, IBRD and ADB just to
fulfill the need of foreign exchange and to fill up the gap due to paucity of credits. All these components compelled the government to adopt more and more liberal attitude towards FDI inflows in India. Of late, globalization and liberalization have become most sought after economic approach to accelerate the pace of economic developing in the development

Published
2013-06-28
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How to Cite
Balasubramanian, P., & Thangamayan, S. (2013). Growth of Foreign Direct Investment and Economic Development in India. Shanlax International Journal of Economics, 1(3), 13-20. Retrieved from https://shanlaxjournals.in/journals/index.php/economics/article/view/1575
Issue
Vol 1 No 3 (2013)
Section
Article
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