22 october 2005

fm debunks fears of fii pull out
new delhi: finance minister, p. chidambaram, made light of fears of a possible large-scale pullout of portfolio investments by foreign institutional investors (fiis) and expressed confidence that large fii inflows would continue.

"if there are inflows (from fiis), there will be periods where there are outflows. we must be able to take both inflows and outflows in stride. i am confident that we would continue to get large fii inflows," chidambaram said in his address at the assocham annual session here.

he said that fii investment so far in the current fiscal stood at $4.3bn. for the calendar year 2005, the minister said that the fii investments level is already $8.2bn.

chidambaram said that the fdi inflows during april-august 2005 stood at us$1.909bn. this, he said, represented a 20 per cent jump over the level recorded in the same period last year and the highest since 2000-01.