India aims to allure investors
An official from India expressed the country’s goal of securing a minimum of $100 billion annually in gross foreign direct investment, emphasizing the nation’s efforts to attract investors seeking diversification away from China. “Our objective is to maintain an average of at least $100 billion over the next five years. The trajectory is highly encouraging and shows an upward trend,” stated Rajesh Kumar Singh, Secretary in the Department for Promotion of Industry and Internal Trade, during an interview in New Delhi.
However, foreign investment hasn’t kept pace with the acceleration in local manufacturing. Singh attributed this to elevated inflation and interest rates in developed countries, along with geopolitical conflicts and risk perceptions regarding emerging markets.
“In India, there exists an unparalleled market growth opportunity across various sectors such as electric vehicles, electronic goods, or general consumer goods, where penetration levels within our population are significantly below the global average,” he stated in the interview on Thursday. He pledged that the government would undertake further measures to streamline FDI regulations.
