India in top 3 choices for foreign investors |
In a survey conducted by the Confederation of Indian Industries and Ernst and Young, India has emerged as one of the top three choices for overseas investments in the next two to three years. The survey was conducted to assess India`s competitiveness in terms of certain parameters and give constructive suggestions to policymakers. According to the survey, India is the number one choice for future investments for more than two-thirds of the multinational company respondents. A fourth of the respondents, who represent non-Indian headquartered MNCs, feel that India is the first choice for future investments. More than 80% of all the respondents and 71% of the non-Indian headquartered respondents plan to make investments globally in the next two to three years. About 30% of companies are planning to invest more than $500 million. The CII-EY survey results strongly indicate that India will be the next global investment hotspot with a high proportion of MNCs placing it at the top of their investment agenda. The recent major structural reforms, proactive government processes and the quick pick-up in economic activity following unlock measures are contributing to global investor interest. The survey said that new investments will be driven by capacity expansion, digital transformation, research and development, and greenfield investments. According to the respondents, the market potential, skilled workforce and political stability are the top reasons to make India their favored destination.
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