FDI inflows to improve on renewed foreign investor interest: Anand Sharma

India expects a healthy flow of foreign direct investment (FDI) in the current year on the back of renewed interest of overseas investors.

"I admit that last year was a difficult year. It was because of perception, which was based on some misgivings. But now I see renewed interest, I see a hope that 2013 will be a better year," Commerce and Industry Minister Anand Sharma said today at the annual World Economic Forum (WEF) meeting in Davos.

During January - November 2012, India received FDI worth $21.68 billion (Rs 116,492.90 crore), a decline of 33 per cent over the same period of previous year.

In order to increase FDI inflows, the government has recently liberalised the FDI policy in sectors including multi-brand retail, single-brand retail, commodity exchanges, power exchanges, broadcasting, non-banking financial institutions and asset reconstruction companies.

"If our economy keeps the growth momentum, the capital will find its way to where
opportunities exist. India is the country which beckons the world today," Mr Sharma said.

The Indian economy registered a GDP growth of 5.3 per cent for the quarter ended September last year. The economy grew by 5.5 per cent in the June quarter and 6.7 per cent in the quarter ended September 30, 2011.

Meanwhile, pharma major MSD International president (emerging markets) Kevin Ali, who was also present at the meeting, said: "We have a facility in India and it is a key country for our future growth." Asked if he was convinced about the growth potential of India, he said: "Yes, I am."