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Oct 06
2007
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India's FOREX Reserves Hit Record HighPosted by Bipin in Untagged |
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India's foreign exchange reserves added $11.8 billion during the week ending on September 28,2007. The foreign exchange reserves now stand at $247.762 billion. This is a new high. At this rate, India may add over $100 billion to its foreign exchange reserves for 2007.
Why are we tracking India's foreign exchange reserves? The reason is simple. Higher foreign exchange reserves act as a hedge from economic ups and downs. Besides that when China started accumulating over $200 billion of foreign exchange reserves starting in 2003, China embarked on major infrastructure development. India potentially could follow China down the same foot steps.
Indian government has committed over $500 billion in infrastructure investment over next several years. The private sector is expected to spend additional $125 billion. All this spending is going to spur boom in infrastructure projects.
Which sectors are likely to benefit from the infrastructure investment? The answer is as follows.
Indian government has committed over $500 billion in infrastructure investment over next several years. The private sector is expected to spend additional $125 billion. All this spending is going to spur boom in infrastructure projects.
Which sectors are likely to benefit from the infrastructure investment? The answer is as follows.
- Steel
- Cement
- Power
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