NEW YORK ( TheStreet) -- Moody's (MCO - Get Report) upgraded India's local currency sovereign rating from Ba2 to Ba1 based on economic officials' conscious efforts toward its recovery and efficient fiscal reforms. This move would lead to increasing capital inflows and appreciation of domestic currency.The United Nations Conference on Trade and Development, or UNCTAD, said in a report that India stood ninth in the top 10 destinations for foreign direct investment in 2009; it was in the 13th position in 2008. According to EPFR Global data, for the week ended July 21, 2010, foreign fund inflows into India touched a 51-week high at $187 million, as investors were cautious on developed markets and an attractive Indian earnings season lured inflows into the economy.
India Luring Investors Post Moody's Upgrade
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