Commerce and industry minister Piyush Goyal stated that India will continue to attract high foreign direct investment, this financial year. He also revealed that the “historic highs” of the country’s foreign investment in the last seven years.
The minister further informed the press “This year, we are very confident that we will continue this streak of seven continuous years of historic highs in our foreign investments,” He further said that India has received the highest ever FDI in the Covid-impacted 2020, in contrast with shrinkage in investment inflows globally. In FY21, India received $81.72 billion foreign direct investment (FDI), the highest ever and 10% more than what was received in the year before, according to a commerce and industry ministry statement. Singapore, the United States and Mauritius are the top investors, the statement further noted.
Goyal further said on Saturday that India is in talks with 16 countries, including the UK, the EU, Australia, Canada, and the UAE, for trade agreements. “We have focused our efforts on a few very promising agreements where I can clearly see huge comparative advantages for India to get market access and the ability to trade both in goods and services in a much bigger way,” Goyal said in his address. India has FTAs with several countries, including Japan, South Korea, Singapore, and ASEAN members.
Discussion about this post