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India
28.09.22 13:19
Economics

India recorded the highest foreign direct investment inflows in 2021-2022

The highest ever FDI stood at $83.6 billion

As per the Ministry of Commerce and Industry, FDI inflows stood at $45.15 billion in 2014-2015. The year 2021-22 recorded the highest ever FDI at $83.6 billion.

According to the ministry, to attract foreign investments, the government has put in place a liberal and transparent policy wherein most sectors are open to FDI under the automatic route.

“The year 2021-22 recorded the highest ever FDI at $83.6 billion. This FDI has come from 101 countries, and has been invested across 31 states and UTs and 57 sectors in the country. On the back of economic reforms and ‘Ease of Doing Business in recent years, India is on track to attract $100 billion FDI in the current financial year,” the ministry said on Saturday.

It said the Production Linked Incentive (PLI) scheme across 14 key manufacturing sectors was launched in 2020-21 as a big boost to the Make in India initiative.

The PLI scheme incentivizes domestic production in strategic growth sectors where India has a comparative advantage. This includes strengthening domestic manufacturing, forming resilient supply chains, making Indian industries more competitive, and boosting export potential. The PLI scheme is expected to generate significant gains for production and employment, with benefits extending to the MSME ecosystem.

Recognizing the importance of semiconductors in the world economy, the government has launched a $10 billion incentive scheme to build a semiconductor, display, and design ecosystem in India, as reported by Trinity Mirror, a partner of TV BRICS.

Photo: IStock

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