FTAs, lower import duties to boost India's FDI flows: ADB chief economist
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ADB Chief Economist Albert Park stated that Free Trade Agreements (FTAs) and reduced import tariffs could enhance India's Foreign Direct Investment (FDI) inflows, which have declined in recent years. He emphasized the need for a robust manufacturing ecosystem and better urban governance to attract foreign capital. Park also noted that the ongoing Middle East crisis may impact India's GDP growth and inflation, projecting a GDP growth of 6.3% and inflation at 4.5% for the current fiscal year.
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