India replaces China as top FDI destination in 2015: FDI Intelligence Report
According to FDI Intelligence Report India has replaced China as the top Foreign Direct Investment (FDI) destination by attracting $63 billion worth FDI projects in 2015.
FDI Intelligence is a division of international media company – The Financial Times Limited.
Key highlights of Report
- India was the highest-ranked country by capital investment in the year 2015, with 63 billion dollars-worth of FDI projects announced.
- It was the biggest change in Greenfield FDI in 2015 was near tripling with an estimated 63 billion dollars.
- There was an 8 per cent increase in project numbers to 697. The boost in FDI has resulted in a whopping increase in job creation from nearly 1 lakh in 2013 to over 2 lakh jobs in 2015.
- These high-value projects were specifically announced across the coal, oil and natural gas and renewable energy sectors
- India has replaced China as the top destination for FDI by capital investment following of high-value project announcements.
- Among the emerging economies: Greenfield FDI inflow in India and China was followed by Indonesia ($38.5 billion), Mexico ($24.3 billion) and Brazil ($17.3 billion).
- Top destination states for FDI in 2015 in India: Gujarat was on top which had attracted $12.4 billion. Maharashtra was second attracting $8.3 billion respectively in 2015.
Categories: Business & Economy Current Affairs 2017