India may draw $475 billion in FDI in next 5 years: Report

Sakshi Education

India has promising growth prospects for foreign direct investment (FDI) and has the potential to draw $475 billion in FDI flows over the next five years, according to a CII-EY report. Despite the effects of the pandemic and geopolitical developments, foreign direct investment (FDI) in India has steadily increased over the past ten years, reaching $84.8 billion in FY 2021–22.
71% of multinational corporations (MNCs) with operations in India view it as a key market for their international expansion. Prospects for the long run and the short term are what are fueling the optimism.
According to the report titled “Vision – Developed India: Opportunities and Expectations of MNCs,” the majority of MNCs believe that the Indian economy will perform significantly better in the next three to five years.
With 96% of respondents being optimistic about the overall potential of the country.
The robust momentum in India’s domestic consumption, services, digital economy, and infrastructure is dictating the country’s growth trajectory.
Behind only the US and China, the forecasted actual growth in consumption is the third greatest, and by 2025, the rapidly growing digital economy is predicted to reach $1 trillion.

Download Sakshi Education Mobile APP