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PM replies to Barack Obama via Twitter

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CIOL Bureau
New Update

NEW DELHI, INDIA: Indian Prime Minister, Manmohan Singh, tweeted on FDI for his 1.37 lakh followers. This tweet comes on the close heels of the US President Barack Obama terming India's investment climate as unfortunate.

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Manmohan Singh, on Monday in his three tweets, cited UNCTAD World Investment report 2012. Singh said that India is the third most desirable destination for foreign direct investment (FDI).

Slamming Obama's apprehensions, his post says: "The two large emerging economies, China and India, saw inflows rise by nearly 8 per cent and by 31 per cent, respectively: UNCTAD"

Further, Singh while referring to the report tweeted, "FDI inflows to South Asia turned around as a result of higher inflows to India, the dominant FDI recipient in the region."

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The department of industrial policy and promotions says that cumulative FDI inflows were the highest in chemicals, followed by services, pharmaceuticals, construction and telecommunication.

Reserve Bank of India (RBI) in its finding said that FDI inflows went up by 34 per cent in 2011-12 to $46.8 billion in comparison to $34.8 billion in 2010-11.

The official Twitter account for the Prime Minster is being maintained by the PMO.

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