FDI: FDI of $ 475 billion may come into the country in five years, MNC considers India as an attractive investment destination

Posted on 17th Oct 2022 04:00 pm by rohit kumar

With a focus on reforms and growth rate, India can achieve foreign direct investment (FDI) of $ 475 billion in five years. According to a report by EY and the Confederation of Indian Industry, 71 percent of multinational companies (MNCs) considered India as an attractive investment destination for their global expansion.

 

96 percent of MNCs said they are positive about the Indian economy in the long run. The MNC lauded other reforms including GST, the promotion of digital practices in various sectors, and transparency in taxation. Most of the MNCs feel that the Indian economy will perform better in three-five years. India has seen a steady increase in FDI over the last decade. A record $84.8 billion FDI came in 2021-22.

 

 

Sudhir Kapadia, Partner, Tax & Regulatory Services, EY India said, “India is being viewed as an emerging manufacturing hub in global value chains, a growing consumer market, and a global leader in the digital transformation of the public-private sectors. The MNC expects the government to expedite a free trade agreement with the continuation of the ease of doing business. Along with this, necessary reforms will also be done in GST.

 

Also Read: Indian economy picks up pace amid world slowdown, exports rose to $35 billion in September

Other news

Twitter co-founder preparing new social media app; What is Jack Dorsey's plan?

If you too are not happy with Elon Musk becoming the owner of Twitter, then you may soon get a ne

Justice Surya Kant, who will be sworn in as the 53rd CJI of India, was part of the verdict on SIR and Pegasus.

Supreme Court Justice Surya Kant will be sworn in as the 53rd Chief Justice of India on Monday.

India's first private rocket launch: Company bid- Satellite launching will be as easy as booking a cab; took off from Sriharikota at 11:30

India's first private rocket Vikram-S was launched today at 11:30 am from Satish Dhawan Space Cen

Farmer Protest: The Shambhu border has not opened even after six days of the High Court order, now this is the strategy of farmers

Even after six days of the order of the Punjab and Haryana High Court, the Haryana government has

Yograj Singh Statements Against MS Dhoni: A Deep Dive into the Controversy
Introduction

SSC: 'The youth of the country is getting beaten up on the streets' Kejriwal said on the ruckus over the SSC exam, now they will have to answer.

Aam Aadmi Party's national convenor and former Delhi CM Arvind Kejriwal has posted on X on the is

Tension on the border: Amritsar airport closed, schools closed today; people of border villages started migrating

There is tension on the India-Pakistan international border after India's Operation Sindoor on Pa

In the Republic Day parade tableau, the Home Ministry showcased the new criminal laws, which Amit Shah described as a sign of a justice-oriented system.

Home Minister Amit Shah said on Monday that his ministry's tableau in the Republic Day parade sho

Maha Kumbh: This time Dome City will be built above the ground, arrangements will be made for 200 people to stay at a time, and homestays will also be ready

On the one hand, while preparations are being made on a war footing for the Maha Kumbh to be held

Mahakumbh: Ganga is getting contaminated with fecal coliform, know its ill effects? People returning from Kumbh are getting sick

The ongoing Maha Kumbh in Prayagraj has become a center of attraction for the whole world these d