Govt policies, reforms made India preferred FDI destination: Goyal

Policies and reforms initiated by PM NarendraModi Ji have made India a preferred destination for FDI, Goyal said in a tweet.

The government policies and reforms have made India a preferred destination for foreign direct investments and the inflows grew at the fastest rate among top economies, Commerce and Industry Minister Piyush Goyal said on Monday.

Foreign Direct Investment into India rose by 13 per cent in 2020, boosted by interest in the digital sector, and while fund flows ''declined most strongly'' in major economies such as the UK, the US and Russia due to the COVID-19 pandemic, India and China bucked the trend,'' the UN has said.

An 'investment trends monitor' issued by the United Nations Conference on Trade and Development (UNCTAD) on Sunday said that global FDI collapsed in 2020 by 42 per cent to an estimated USD 859 billion from USD 1.5 trillion in 2019.

''India Means Business: Despite Covid, FDI inflows into India grew at fastest rate among top economies. With double-digit FDI growth of 13 per cent in 2020, the world is beating a path to India. Policies and reforms initiated by PM @NarendraModi Ji have made India a preferred destination for FDI,'' Goyal said in a tweet.