Healthy flow of FDI into the country corroborates India’s status as a preferred investment destination among global investors, industry chamber CII said on Tuesday. Foreign direct investments (FDI) into the country grew 19 per cent to USD 59.64 billion during 2020-21. Total FDI including equity, re-invested earnings and capital, rose 10 per cent to the highest ever at USD 81.72 billion during the last fiscal year.
“Despite a very challenging backdrop to the year, the strong performance by FDI flows corroborates India’s status as a preferred investment destination among global investors,” it said. The government’s continuous thrust to keep the reforms’ momentum intact by delineating significant policy measures last year in the areas of liberalizing FDI norms in many more sectors, streamlining ease of doing business reforms, among others has reinforced the faith of global investors in India’s growth story, it added.
“This will certainly assist in a swift bounce back of the economy from a pandemic-induced slowdown we saw in the last fiscal year, it said.