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FDI in India expected to touch $100 bn in FY23: PHDCCI

15 Apr '22
1 min read
Pic: sdx15/Shutterstock
Pic: sdx15/Shutterstock

India is expected to attract $100 billion in foreign direct investment (FDI) in fiscal 2022-23 based on economic reforms and ease of doing business in recent years, according to the PHD Chambers of Commerce and Industry, which recently said the current fiscal is expected to witness a gross domestic product (GDP) growth of more than 8 per cent.

However, the inflation scenario has been stoked by rising international commodity prices, particularly of crude oil, it noted.

The industry chamber suggested a ten-pronged strategy to strengthen economic growth and achieve the target of becoming a $5-trillion economy in the next five years, a news agency reported.

The suggestions include speedy infrastructure investments, inclusion of more sectors under the performance-linked incentive scheme, increase in public investments in agriculture sector, addressing high commodity prices and shortages of raw materials.

Fibre2Fashion News Desk (DS)

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