The Highest FDI USD 64.37 Billion was Received in India in FY2019
The importance of the Foreign Direct Investment (FDI) in a fast developing country like India is limitless. Today, India is looked at the best and speedily growing economy in the world. The growth prospect across the industries is remarkable. Hence, investors from the different countries are taking keen interest and making heavy investment in India.
The great initiatives by the Modi government namely Make in India, Startup India and more are a great boost resulting in generating employment, bringing in more FDI, and strengthening the economy of India.
According to the recent report shared by the government, India received FDI worth $64.37 billion during the financial year ending Mar 2019. It is undoubtedly the highest-ever Foreign Direct Investment coming to the country.
The Annual Report 2018-19 released by the Department for Promotion of Industry and Internal Trade (DPIIT) reveals that the FDI valuing $286 billion was received in the last five years.
The report said, “India recorded the FDI inflow of USD 64.37 billion in the current fiscal year 2018-19 which is highest-ever in the history.”
The Foreign Direct Investments in the country is the source of resource inflow including the introduction of the latest technology, strategies and other result-oriented practices pushing the economic growth to a height which is beyond the expectation.
The DPIIT also stated that the FDI inflow registered in the nation during 2017-18 was USD 60.98 billion which was higher than the FDI received in 2016-17. During 2014-15, it was USD 45.14 billion and in 2015-16, the Foreign Direct Investments in India increased to USD 55.55 billion.
The strong and growth-oriented governance led by the Prime Minister Narendra Modi has attracted foreign investors. Today, heavy investment in the varied sectors has been made by the investor from the different nations. There are numerous advantages of FDI and not only the sources making investment reaps the benefit out of it but also the citizens in the nation enjoys the maximum advantage generated by the huge FDIs.
At present, India is recognized as the largest market in the world. The Department for Promotion of Industry and Internal Trade (DPIIT) said that a proven plan of action has been prepared for the worldwide promotion of Indian ‘Geographical Indications’ (GIs). It can certainly help to generate supplementary income for our farmers engaged in the agricultural sector, craftsmen, weavers, and artisans.
This remarkable initiative of bringing in FDI through Make in India program is considered as the masterstroke of the ruling government. It has undoubtedly changed the views, and mindset of many economists and researchers in the country.
The government and the concerned department are in the continuous process of reviewing our prevailing FDI policy with the aim of making the Indian FDI policy more investor-friendly.
