|
|
FDI in India growing 48 pc, falling elsewhere: Sitharaman
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 08 Feb, 2016
Foreign direct investment in
India has been growing around 48 percent despite the global economic
slowdown that has seen FDI declining elsewhere, Commerce Minister
Nirmala Sitharaman said on Monday.
"FDI in the world is
falling... India is the only country where foreign investments are
growing," she said at the inaugural ceremony of 'Make in India' Week.
"The
government has incessantly pushed policy measures to boost
manufacturing and today, FDI in India is growing at 48 percent while
globally there's a sharp fall," she said.
"The global business
community has responded enthusiastically to the Indian economy's
revivalist fervour, and the Make in India Week will further showcase the
nation's accomplishments in manufacturing and position India as an
investment, innovation and manufacturing hub," she added.
The
union commerce minister said the states have a significant role in
building and sustaining a manufacturing revolution and they would be the
drivers of development while the central government would play a
catalytic role.
A Make in India Week 2016, to be inaugurated by
Prime Minister Narendra Modi on February 13, will be organised here to
give further momentum to the initiative that has seen the country trump
the US and China by attracting FDI worth $31 billion in the first half
of 2015.
Over 1,000 companies are expected to showcase their
achievements, while 70 countries will participate in the event with the
theme "Innovation, Design and Sustainability" and which will be held at
the Bandra-Kurla Complex here, the union department of industrial policy
and promotion (DIPP) had announced in New Delhi in December.
The event will also have various states and sectors making a pitch for investments through specially organised seminars.
The
US-based Forbes magazine in their latest annual list of the best
countries for doing business in 2015 has ranked India 97th out of 144
nations, behind Kazakhstan and Ghana, scoring poorly on categories like
trade and monetary freedom and tackling challenges like corruption and
violence.
Forbes said that while the country is developing into an open-market economy, traces of its "past autarkic policies" remain.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|