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India is on track to attract $100B FDI in 2022-2023

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India is on track to attract $100B FDI in 2022-2023

New Delhi, Sep 24 (Prensa Latina) India is on track to attract $100 billion in foreign direct investment (FDI) in the current fiscal on account of economic reforms and ease of doing business, the government said on September 24, 2022.

In 2021-22, the country received the highest ever foreign inflows of $83.6 billion, The Hindu Business Line reported.

This FDI has come from 101 countries, and invested across 31 union territories and states and 57 sectors in the country.

To attract foreign investments, the Indian government has put in place a liberal and transparent policy wherein most sectors are open to FDI under the automatic route.

Under the automatic route, the investor needs no or very little permission from the Reserve Bank of India (RBI) or the Government, while under the government route, the approval of the relevant government authorities or the RBI is required.

The reform measures include liberalization of guidelines and regulations, in order to reduce unnecessary compliance burden, bring down cost and enhance the ease of doing business in India, it added.

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