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Tuesday, August 25, 1998 Published at 14:37 GMT 15:37 UK

World: South Asia

India raises 4.1 billion dollars

India has raised more than four-point-one billion dollars from Indians living overseas, under a special scheme intended to offset the impact of economic sanctions imposed because of its nuclear tests.

The Resurgent India Bond, launched by the country's state bank allows Indians abroad to buy up bonds in dollars, pounds sterling or German marks without having to pay tax.

About seventy-five thousand Indians have invested in the bonds since the scheme was launched three weeks ago.

Officials at the state bank of India said the success of the scheme showed that the Indian economy was still able to sustain itself.

From the newsroom of the BBC World Service

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