To sustain the high economic growth, India needs foreign direct investment (FDI) and more FDI. FDI is the main factor that can contribute in generating new employment opportunities. It seems that India has now got the Midas touch as far as FDI is concerned. In the last fiscal year, India received nearly $ 8.4 billion of foreign direct investment. This year, Indian government is expecting $12 billion. Indian secretary in the Department of Industrial Policy promotion, Ajay Dua stated this today. He also informed that Indian government was expecting substantial increase in investment from 3 countries: Taiwan, Japan and South Korea. South Korean companies have already invested heavily in India and any increase is certainly shows that South Korean companies are doing well in the Indian market.
Indian government will love to see increase of investment in the manufacturing sector and South Korea, Japan and Taiwan are famous in Asia mainly in the manufacturing sector. So, I guess that it is a good sign for the Indian economy.
What do you think?
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