$100 Billion FDI in India in 2022-23.
Due to economic reforms and ease of doing business, the Central government declared on Saturday that India is on pace to attract 100 billion
USD in Foreign Direct Investment (FDI) in the current fiscal year. In
2021-22, India had the "most ever" foreign inflows of USD 83.6 billion.
"This FDI has been invested in 31 union territories and states as well as 57 industries across the nation. It is a obtained from 101 countries. Due to economic reforms and the Ease of Doing Business in recent years, India is on track to attract $100 billion in FDI during the current fiscal year "In a statement, the Ministry of Commerce and Industry noted.
The administration has developed a liberal and transparent foreign investment policy, according to the statement. The bulk of Indian economic sectors are currently accessible to FDI via the automatic route.
India has two avenues for Foreign Direct Investment (FDI): automatic and government. Under the automated system, the investor requires no or very few licences from the Reserve Bank of India (RBI) or the Indian government in order to invest.
According to government rules, investment in the country requires authorisation from the appropriate government authorities or the RBI.
According to the statement, the reform initiatives include the relaxing of norms and regulations in order to eliminate superfluous compliance burdens, reduce costs, and increase the convenience of doing business in India.
India's FDI equity inflows declined by 6% to $16.6 billion between April and June of the current fiscal year.
According to the statement, the government is also adopting strategic steps to resist the import of low-quality and harmful toys and to increase local toy manufacture.
In 2021-22, toy imports plummeted by 70% to USD 110 million (877.8 crore). In contrast, exports rose 61% to 326 million US dollars.
