Further to enhance India’s manufacturing capabilities and exports, Government has earmarked an outlay of INR 1.97 lakh crore
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Notwithstanding Covid related disruptions, India registered its highest Foreign Direct Investment to the tune of US$ 81.97 billion in the financial year 2020-21, said Minister of State in the Ministry of Commerce and Industry Som Parakash here on Friday.
“These trends in India’s FDI are an endorsement of its status as a preferred investment destination amongst global investors,” the Minister said while replying to a question in the Rajya Sabha.
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In the last seven financial years, India has received FDI inflow worth US$ 440.27 billion which is nearly 58 percent of the FDI reported in the last 21 years (US$ 763.83 billion), the Minister said.
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The Minister said India has taken a series of measures to improve the country’s investment climate as a result India jumped to 63rd place in World Bank’s Ease of Doing Business [EODB] in 2020 from a rank of 142 in 2014.
Further to enhance India’s manufacturing capabilities and exports, Government has earmarked an outlay of INR 1.97 lakh crore (over US$ 26 billion) in Union Budget 2021-22 for Production Linked Incentives (PLI) schemes for 14 key sectors of manufacturing starting from fiscal year (FY) 2021-22, the Minister said
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