PM says economy eager to absorb FDI

India is eager to absorb foreign direct investment, Prime Minister Manmohan Singh said on Thursday in the Chinese town of Sanya in a statement at the BRICS summit, which included China, Brazil, Russia and South Africa.

Singh also said the economy was well positioned to achieve annual long-term growth of 9 percent or more.

The Prime Minister said the health of India's financial and capital markets was sound.

The economy is expected to grow 8.6 percent in the fiscal year that ended in March.

(Reporting by Abhijit Neogy; Editing by Ken Wills)

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