India Anticipates Massive Surge in Foreign Direct Investments

India is currently receiving foreign direct investments (FDI) of USD 70-80 billion annually, with expectations to reach USD 100 billion per annum in the coming years. Measures to promote investment include easing norms in various sectors. Over the last decade, FDI inflows have shown significant growth.

India is on track to substantially increase its foreign direct investments (FDI) from USD 70-80 billion per year to a target of USD 100 billion annually, according to a top government official on Wednesday.

Amardeep Singh Bhatia, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), announced that the department is simplifying approval processes for FDI applications. The government has undertaken various initiatives to attract more investments, such as relaxing norms in critical sectors including defense, railways, insurance, and telecom.

Additional Secretary in the DPIIT, Himani Pande, revealed that India attracted FDI worth USD 22.49 billion in the first quarter of this fiscal year, compared to USD 17.56 billion in the same period last year. The Make in India initiative has significantly improved India's industrial capacity and export competitiveness, despite ongoing challenges in job creation and SME growth.

(With inputs from agencies.)