Finance Minister Nirmala Sitharaman on Saturday said inflation is at a manageable level and the Indian economy is seen as a sweet spot the world over, as a result of which there will be a lot of interest from investors.

She also said it is going to be an era for entrepreneurship and a lot of funds are going to come to India.

"Our inflation is at a manageable level. Yesterday, RBI's announcement also sent a very positive message to the markets," she said.

On Friday, the Reserve Bank of India (RBI) hiked its interest rate by 50 basis points to tame inflation.

The central bank also retained its inflation projection for FY23 at 6.7 per cent amid geopolitical concerns triggered by the Russia-Ukraine war and expected inflation to be under control from January.

Sitharaman, who is also in charge of the corporate affairs ministry, was speaking at a function here to mark the sixth annual day of the Insolvency and Bankruptcy Board of India (IBBI).

According to the minister, it is an era of robust economic activities and as a result, "we need good professionals who can understand how liquidation, how insolvency and how bankruptcy all of them can be handled...in a very efficient manner".

She also stressed that it is going to be unlike any other time in India and also requires very robust regulators.

"The government is actively engaging with sovereign funds, big funds who can come to India and invest in India.

"... mergers and acquisitions are also going to happen because it is an economy which is seen as a sweet spot the world over because we have achieved a certain growth and are standing out as the fastest growing economy in the world. Therefore, you are going to have a lot of investor interest," she said.

Further, the minister touched upon the trend of Foreign Portfolio Investments in recent months.

"Till July, you had a lot of FPIs going away from India...people thought that might be an indication that the economy is going to be in distress and as much or even more have started coming back from August, let us say. Till September, more than 70 per cent of FPIs that went out have equally come back," she noted.

Sitharaman added that insolvency law cannot lose its "sheen".

Speaking about the Code over the last six years and the way forward, she also said that "we cannot have stress signals go unnoticed".

IBBI is a key institution in the implementation of the Insolvency and Bankruptcy Code (IBC), which provides for a market-linked and time-bound resolution of distressed firms. The code came into force in 2016.

National Company Law Tribunal President Chief Justice (Retd) Ramalingam Sudhakar and Competition Commission of India (CCI) Chairperson Ashok Kumar Gupta, among others, were present.

As many as 1,934 corporate debtors have been rescued through the Code till June this year. These include 517 through resolution plans, 774 through appeal or review or settlement and 643 through withdrawal. In value terms, around 69 per cent of distressed assets, which entered the process under the Code, have been resolved, as per IBBI.