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Foreign direct investment risen to 53 pct in past 2 years, says gov't

Xinhua, July 29, 2016 Adjust font size:

India on Friday said that foreign direct investment inflows into the country have jumped to 53 per cent in the last two years.

"In the last two years, there has been 53 percent rise in FDI (foreign direct investment) into the country, which is a record high. Comprehensive reforms in FDI have resulted in the highest-ever FDI inflow in 2015-16," Indian Finance Minister Arun Jaitley told the Parliament.

"Steps taken by the government to foster economic growth, price stability and fiscal prudence have improved the overall macroeconomic stability, which brightens the investment climate in the country."

Asserting that the Indian government has adopted several measures to attract foreign and domestic investors, Jaitley said "In addition to opening up more sectors for FDI, related conditionalities have been smoothened by this government."

"Improving the ease of doing business is a work in progress," he added. Endit