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FM seeks to soothe FDI fears

July 21, 2004 16:44 IST

Finance Minister P Chidambaram said on Wednesday that decisions on foreign direct investment will be taken in the best interest of the country in consultation with the Left parties.

"People say that I am under pressure from Left friends. But I have to say that I have great pleasure working with them. I will listen to them and I will convince them. Eventually the government has to take decisions in the best interest of the country," he said referring to the controversy over hike in sectoral caps on FDI in insurance, civil aviation and telecom.

Maintaining that the government was committed to making investment as cornerstone of its policy, he said "a signal must go that India is open to investment".

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