India Emerges as Top FDI destination: FT report
Surpassing China and US, India emerged as the top foreign direct investment (FDI) destination in the world in the first half of 2015 with $31 billion of foreign capital inflows, according to The Financial Times newspaper.
A report titled “India grabs investment league pole position” published in Financial Times, London was forwarded by the Finance Ministry.
The report said India has attracted $31 billion of FDI in H1 2015, ahead of $28 billion of China and $27 billion of US.
“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,” the FT report said.
India has made significant gains from where it was at this time last year; the country has more than doubled its investment levels from $12 billion in the first half of last year.
According to the report, India has improved its ranking from fifth last year, behind China, US, UK and Mexico to the first position.
“In a year when many major FDI destinations posted declines, India experienced one of 2014’s best FDI growth rates, increasing its number of projects by 47 per cent,” the FT report said.
In another development, India moved up 16 positions to rank 55th on a global index of the world’s most competitive economies compiled by the World Economic Forum.