OctaFX | OctaFX Forex Broker
Open trading account

Sources: India plans new law to protect foreign investment - Reuters

Citing two Indian government officials with direct knowledge of the matter, Reuters reports on Thursday that India is considering drafting a new law to safeguard foreign investment that would aim to attract more capital from overseas.

This effort by India is seen boosting dwindling domestic growth.

The official said: “The idea is to attract and promote foreign investment, but a major issue for investors is the enforcement of contracts and speedy dispute resolution.”

“The draft proposal is aimed at diffusing investor mistrust around the sanctity of agreements, which has worsened recently after some state governments decided to review approved projects, or threatened to cancel contracts,” the officials added.

Despite the pro-growth initiative by the government mentioned above, the Indian rupee fails to benefit, as the country’s declining exports growth weighed. USD/INR extends its recovery from five-week lows of 70.682 to now trade near 70.85, up 0.21% on the day.

India's exports declined 1.8% in December to $27.36 billion, registering fifth straight monthly fall amid the general economic sluggishness and weak domestic demand.

GBP/USD registers three-day winning streak amid Brexit drama

GBP/USD takes the bids to 1.3050 while heading into the London open on Thursday. The pair recently benefited from the US dollar (USD) weakness.
Read more Previous

NZ: Monthly Inflation Gauge surged 0.4% in December – ANZ

The ANZ Monthly Inflation Gauge was lifted 0.4% MoM in December for the New Zealand economy, to finish the quarter up 0.8% QoQ, notes the research tea
Read more Next
Start livechat