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US Retaliation No Long-term Impact on Economy: India
A senior Indian minister said in New Delhi on September 21 that though an "environment of uncertainty" prevailed in the wake of terrorist strikes in the United States, he did not see any "long-term impact" on Indian economy because of possible retaliation by Washington.
Finance Minister Yaswant Sinha told a gathering in Haryana that there was no need of any panic as the country was self-sufficient with foodgrains.
According to the Press Trust of India (PTI), the minister said that the government had drawn a "list of measures" prior to the strikes last week to keep a tap on the slowdown of the economy.
However, other government officials said on Wednesday that India's economy would be effected as a result and a fallout of the terrorist strikes.
The jinxed disinvestment process in the country might come under darker clouds and foreign investors could be kept off bidding, warned Disinvestment Minister Arun Shourie.
Sinha held a tele conference last Wednesday night with possible investors in Europe and the Far East in a bid to woo foreign institutional investments in the country.
In a major decision to attract foreign investment, the Indian government on Thursday increased portfolio investment limit up to 100 percent for foreign institutional investors (FII).
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