Financial turmoil may hit India's FDI inflows: Nath

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New Delhi, Oct 13 (UNI) Expressing concern that the global financial crisis may minimally impact the inflows of foreign direct investment in the country, Commerce Minister Kamal Nath today said India will be able to achieve the set annual target of 35 billion dollars FDI.

''Liquidity will have some impact on investment flows but we hope to achieve FDI inflows in excess of 35 billion dollars this year,'' Mr Nath told reporters here on the sidelines of the third IBSA Bunisess Summit 2008.

He expected the exports to grow by 30 per cent this month, inspite of the financial crisis affecting global economies.

''Exports have gone up by 30 per cent and even this month I feel the exports would go up by that much,'' the Minister said.

Commenting on the depreciating rupee against the dollar, he said it is because of the continuous outflow of dollars, adding, ''it is not permanant''.


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