At a time when FDI to emerging economies has come down by about 50 percent, FDI in India has increased. The increase in FDI in India amid the pandemic is a sign that foreign companies have done what they have been talking about.
KV subramanian on Economy
India’s Chief Economic Adviser KV Subramaniam said that several reforms undertaken by the government in the last one year are expected to boost gross investment, including foreign investment. These also include reforms focused on addressing supply side problems.
KV Subramaniam said in a virtual discussion on the World Investment Report 2021 organized by the Institute for Studies in Industrial Development that at a time when FDI to emerging economies has come down by about 50 percent, FDI in India has increased. .
The increase in FDI in India amid the pandemic is a sign that foreign companies have done what they have been talking about. He said the distinction between FDI in M&A versus FDI in Greenfield is consistent and “the fact that M&A did not happen as much in other countries”. But what happened in India and recorded significant growth is a sign of India’s growth story.
India becomes 5th largest country in the world
According to a report released by the United Nations Conference on Trade and Development (UNCTAD) earlier this month, foreign direct investment of $ 64 billion was made in India in 2020. In this way, India became the fifth largest country in the world to receive FDI. This figure was achieved due to acquisitions made in the information and communication (ICT) industry.
Many improvements in the last one and a half
The Chief Economic Adviser (CEA) said that India is the only country among large economies, which has taken several reforms in the last one and a half years which mainly focused on removing many problems on the supply side. This paved the way for investment in the country. Subramaniam said, “Labour reforms, agricultural reforms, change in the definition of MMME (Micro, Small and Medium Enterprises) and above all focus on the private sector in the enterprise policy. It is here that the path of future FDI should be understood in the context of the enterprise policy focused on the private sector.
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