• India on track to attract $100 billion FDI this fiscal, says Govt

    Business
    India on track to attract $100 billion FDI this fiscal, says Govt
    The government's implementation of a liberal and open policy to draw in international investment is also mentioned in the statement. The majority of Indian economic sectors are currently accessible to FDI via an automated method.


    Digital Desk: The Central Government announced on Saturday that due to economic reforms and the ease of doing business, India is on track to bring in USD 100 billion in Foreign Direct Investment (FDI) during the current fiscal year. India experienced "largest ever" foreign inflows of USD 83.6 billion in 2021–22.

    "This foreign direct investment (FDI) has been made in 57 industries, 31 union territories, and 101 nations. India is on course to draw USD 100 billion in foreign direct investment in the current fiscal year thanks to economic reforms and improvements in the business climate in recent years "In a statement, the ministry of commerce and industry stated.

    The government's implementation of a liberal and open policy to draw in international investment is also mentioned in the statement. The majority of Indian economic sectors are currently accessible to FDI via an automated method.

    There are two ways to make Foreign Direct Investment (FDI) in India: automatically and through the government. The investor using the automatic method needs extremely few or no licences from the Reserve Bank of India (RBI) or the Indian government in order to invest.

    To invest in the nation, one must first obtain approval from the relevant government officials or the RBI, according to the regulations.

    In order to remove unnecessary compliance burdens, lower costs, and improve the ease of doing business in India, the statement stated, the reform measures include liberalising norms and regulations.

    FDI equity inflows into India fell by 6% to $16.6 billion during the current fiscal's April-June quarter.

    The statement said, "The government is also making some strategic interventions to combat the import of low-quality and dangerous toys and to enhance domestic toy production."
    Toy imports fell to 110 million USD (877.8 crore) in 2021–22, a 70% decrease. However, exports increased by 61% to USD 326 million.
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