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

AUS vs PAK: Match in exciting situation, Pakistan needs 90+ runs to win and Australia needs three wickets.

The Test match being played between Australia and Pakistan in Melbourne has reached an exciting s

Trump Iftar Party: Chaos at Trump's Iftar Party in the White House, American Muslims got angry after seeing the guest list

Amid the holy month of Ramadan, US President Donald Trump hosted the first Iftar Party at the Whi

IMF to Pakistan bluntly: Managing Director said – Learn to behave like a country, take money from us and give benefits to the rich

The International Monetary Fund (IMF) has advised Pakistan to improve instead of issuing a new tr

PAK vs SL: Babar Azam's heart broken after being out of Asia Cup, vented out his anger on them after the defeat

In an important match of the Asia Cup played in Colombo, Sri Lanka defeated Pakistan and made it

DU UG Admission 2022: A list of special spot allotment round will be released tomorrow, this is how you can check

DU UG Admission: the University of Delhi will release the DU Special Spot Allotment List tomorrow

Chhath Puja 2023: Today is the second day of Chhath Puja, know the religious importance of Kharna Puja and the rules of Prasad.

Chhath Puja 2023: Chhath Puja fast has special significance in Sanatan Dharma. This special festi

MP Election Result 2023: 'All the estimates till now will fail', this is what CM Shivraj said before the election results

Assembly elections have been completed in Madhya Pradesh. Exit polls have also come out and now e

Raisina Dialogue: PM Modi will inaugurate Raisina Dialogue; New Zealand PM and Tulsi Gabbard will also participate

Prime Minister Narendra Modi will inaugurate the three-day 'Raisina Dialogue' on Monday. It is In

ENG vs PAK: England clean sweeps Pakistan, defeats them by 7 wickets in the last T20 International match

England has won the four-match T20 series 2-0. In the last T20 International match, England defea

Cyber Security: It is necessary to study cyber security in UG-PG, to make students aware and to give technical knowledge

In the academic session 2022-23, the study of cyber security in undergraduate and postgraduate pr