Commerce and Trade Minister Piyush Goyal on Saturday expressed confidence that India will proceed to draw excessive overseas direct funding (FDIs) within the present monetary yr.
He stated India has acquired highest ever FDI within the Covid-impacted 2020, in distinction with a shrinkage in funding inflows globally. In 2020-21, FDI into the nation grew by 19 per cent to $59.63 billion. Complete FDI, together with fairness, re-invested earnings and capital, rose 10 per cent to $81.72 billion throughout 2020-21 as in opposition to $74.39 billion in 2019-20.
“This yr, we’re very assured that we are going to proceed this streak of seven steady years of historic highs in our overseas investments,” Goyal stated on the CII-Horasis India Assembly webinar.
Equally, he stated, India’s exports too are recording wholesome progress and would attain $400 billion by the top of the present monetary yr.