India's economy is capable of absorbing $50 billion in foreign direct investment per year, Finance Minister P. Chidambaram said, adding that the government is committed to reforms to tackle a large current account deficit.

Addressing a news conference during a visit to Tokyo promoting India as investment destination, Chidambaram also reiterated that growth in Asia's third-largest economy was expected to accelerate in the current fiscal year to March 2014.

"FDI flows into India are quite positive... think we can absorb, easily absorb $50 billion of FDI every year into India," said Chidambaram. Read More

Jyothi Shankaran

    Jyothi’s last role was as Senior Editor with the business news channel Bloomberg TV India. He also worked as News Editor at business-standard.com, the online version of the business newspaper Business Standard. Jyothi is a chemical engineer from the Regional Engineering College, Srinagar.