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

The New Year was welcomed with faith, joy, and cheers; not only in the mountains and by the sea, but also with a surge of devotees at the country's major temples.

The New Year 2026 was welcomed across the country with devotion, joy, faith, and cheers. People e

Seema Haider: The border police had left after feeding the children of a Pakistani woman, people said that the border has come to India to spy

People's anger has started erupting on the internet media against Pakistani woman Seema Haider wh

Gadar 2: Makers will soon release the second teaser of 'Gadar 2', the audience will see a glimpse of 'Sakina'

Anil Sharma is all set to enthrall the theaters with 'Gadar' once again along with Sunny Deol and

Eris Corona Variant: No need to worry about Eris virus, India's arrangements are strong: Health experts

The new variant of coronavirus EG.5.1 is spreading rapidly in the UK, which has been named Eris.

External Affairs Minister Jaishankar's target on western countries: Said on India-Russia relation - Our relationship is from when western countries did not give arms to India

Indian External Affairs Minister S Jaishankar is on a tour of Australia. During this, he targeted

New Rules: From credit scores to UPI, these 7 major rules will change from January 1, 2026; how will it affect your wallet?

The year 2025 is now in its final stages. December 31, 2025, is not just a date for changing the

Marathi Row: 'If a poor person speaks Hindi, he is beaten up, no one cares about Javed Akhtar and Aamir Khan...', Nitesh Rane on Marathi controversy

The case of assault on a food stall owner in Mumbai for not speaking Marathi has heated the polit

KCET 2023 Exam: Karnataka Common Entrance Test notification released, know everything from admit card to the exam

KCET 2023 Notification released: Karnataka Examinations Authority (KEA) has released the applicat

IPL 2024: Sunrisers removed Markram, who won SA20, from captaincy, and handed over the responsibility to Cummins worth Rs 20.5 crore.

Changes continue in IPL 2024. After Mumbai Indians suddenly removed Rohit Sharma from the captain

Sanjauli Mosque Dispute: There is a curfew-like atmosphere in Sanjauli due to the mosque dispute, Hindu organizations are protesting

Shimla Masjid Case: The dispute over Sanjauli Masjid in Shimla, the capital of Himachal Pradesh,