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NEW DELHI, Jan 2 Asia Pulse - Amid the debate over whether India can replicate China in attracting Foreign Direct Investment during 2002, the government took some bold steps, including liberalising areas like print media and defence, but not before facing stiff political resistance.
The Indian government is eyeing an all time high of US$5 billion of FDI inflows in 2002, but this remains a pittance when compared to China's FDI inflows of over US$44 billion.
Attempting to bridge the difference, the government announced its plans to align India's definition of FDI with the International Monetary Fund (IMF) which it said would immediately double the FDI inflows to US$8 billion, an annual target contained in the recently approved Tenth Five Year Plan document.
However, ...
Source: HighBeam Research, INDIAN GOVT FACES STIFF RESISTANCE IN ATTEMPTS TO ATTRACT FDI.