The specatcular opening of the Commonwealth Games have revived hopes of cashing in on the global attention on the Games, the government believes.

“The Commonwealth Games will boost the FDI in the country. It will have a multiplier effect on the Indian economy,” commerce and industry minister Anand Sharma said at the Commonwealth Business Forum, organised by Commonwealth Business Club India (CBCI) on Monday.

“The games will help India further attract foreign direct investment (FDI) in the country. There will be more FDI this year than FY10,” Sharma added.

But Sharma did not give any figures or estimates of the expected FDI surge.

“I am not an astrologer to tell you the exact figures,” was his terse reply to the media upon being asked about an estimate.

New Delhi is running a corrective course after reports of mismanagement and corruption hit the city's and the country's global image.

Sharma clarified, “India made the statement on Sunday (CWG opening ceremony). It has the capacity to engage the world in sports and economies of the world.”

The government also expects India's trade with other Commonwealth nations to go up from the current $80 billion. “Trade between Commonwealth countries is already estimated to be around $4 trillion and it will only go further from here,” he said.

Recently FICCI report had added that the event would improve India's positioning as an international investment hub and will act as a catalyst in marketing brand India. 

Last week, the United States had reiterated its commitment to investment in India. US under secretary of commerce for international trade Francisco Sanchez had said that his government remained undeterred despite the bad press over the Commonwealth Games fiasco, during his recent visit to India.

The CBCI has been launched jointly by Federation of Indian Chambers of Commerce and Industry (FICCI), Confederation of Indian Industry (CII) and Organising Committee for New Delhi Commonwealth Games.

The forum aims at promoting trade and investment relations between organisations through business interactions in the backdrop of the games.