Jan 8, 2007

India to move to less restrictive forex regime: PM

India will gradually move into a less restrictive foreign exchange regime and the government expects foreign direct investment to reach billion dollar double digits, Prime Minister Manmohan Singh said on Monday.

"As we gradually integrate India into the global financial system and as we gain confidence in our economy's ability we will gradually move into a less restrictive forex regime," Singh told a business seminar.

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