India pips US, China in FD |
India has emerged on top of the foreign direct investment league table, overtaking China and the United States. A ranking of the top destinations for greenfield investment (measured by estimated capital expenditure) in the first half of 2015 shows India at number one, having attracted roughly $3 billion more than China and $4 billion more than the US, according to the Financial Times newspaper.The news comes as a shot in the arm for the Narendra Modi government which has taken several steps to attract foreign investment and has helped revive mood of investors since it came to power in May 2014.While there has been a demand for accelerating the reforms drive, the government has unveiled several initiatives such as `Make in India` and `Digital India` to lure investors. It has moved to ensure that the country moves up the ranking on the World Bank`s Ease of Doing Business and states have started their clean-up act on this parameter.Investors have started taking interest in the India growth story and the recent visit of Modi to Silicon Valley triggered enormous interest from software and technology czars. Growth is expected to be one of the fastest in the world and several multilateral agencies have said that India remains the bright spot among emerging economies. The government is confident of achieving close to 8% growth in the current fiscal year.
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