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Good sign for Indian Economy! Multinational companies have confidence in India’s growth, 71% agree – best for investment

Highlights

Foreign investment of $ 475 billion is expected in India in the next five years.
96 percent of multinational companies are confident about India’s economic development.
India’s target is to achieve FDI of $100 billion this financial year.

New Delhi. Many multinational companies consider India as an important place to expand their business. These multinational companies already working in India remain very positive about the growth of the country. This is when the clouds of economic crisis are hovering over the whole world. This has come to the fore in a survey conducted by CII-EY. According to the survey, foreign direct investment (FDI) in India can reach $ 475 billion (Rs 39.12 lakh crore) in the next 5 years.

According to this survey, 71 percent of multinational companies (MNCs) see India as an important destination for global expansion of their business. 96 percent of the companies surveyed are very positive about the development of India. He believes that in the next 3-5 years (short term) the Indian economy is going to perform extremely well. The survey has been published in a report titled ‘Vision – Developed India: Opportunities and Expectations of MNCs’.

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FDI continues to rise
It has been said in this report that there has been a steady increase in foreign investment (FDI) in India in the last decade. Despite the tense global conditions and the impact of the corona virus, India received foreign investment of $ 84.8 billion in the financial year 2022. On Saturday, the Ministry of Commerce and Industry had said that India is on track to achieve USD 100 billion FDI in this financial year. Economic reforms and ease of doing business are a major contributor to this. Let us tell you that in the April-June quarter, FDI in India fell by 6 percent to reach $ 16.6 billion. According to a report by Mint, in FY21, India had received FDI of $ 81.9 billion. 10 percent of this came for infrastructure activities.

CII statement
Chandrajit Banerjee, Director General, CEII, said, “It is a matter of great comfort that MNCs consider India an attractive investment destination, despite the challenges faced by the growth of large economies and new geopolitical problems. We believe that due to the changes made by the government, the investment of MNCs in India and their contribution to the domestic supply chain will increase.

Tags: business news, Business news in hindi, fdi, foreign investment, Indian economy

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