India received foreign direct investment (FDI) worth $165 billion in the last two years. These were pandemic years when the world reeled from Covid-19. But even when India was devastated by the second wave, companies from a record 101 nations poured money into 57 sectors in 2021-22.
They were willing to set aside Covid uncertainties to put their money in the India story. In fact, the combined inflows to India during the pandemic years—$81.9 billion in 2020-21 and $83.5 billion in 2021-22, which the Reserve Bank of India released last month, Karnataka was the top recipient state with 38% share in FDI equity inflow, followed by Maharashtra (26%) and Delhi (14%). Karnataka received foreign money mainly in sectors such as computer software and hardware, automobile and education.
As the global economic crisis worsens with the Ukraine war, will India be able to keep this going? Will it be able to attract $100 billion FDI in a year? If so, when? GoI has not announced any target so far. Deepak Bagla, MD and CEO of Invest India, argues FDI is not just about money; it is about global acknowledgement and trust. “We can have FDI inflows worth $100 billion annually in 24 to 36 months, provided we have a supporting global ecosystem,” he says.
Read more at: https://economictimes.indiatimes.com/news/economy/finance/when-would-fdi-in-india-touch-the-milestone-of-100-billion-a-year/articleshow/92009214.cms
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