India goes down to spot number 7 on the foreign direct investment confidence index
India has gown down to the 7th position in the FDI confidence index only within a decade. It is surprising to see India in such a state because according to a study, it had been topped by the USA that too second year in a row.
According to a survey of 300 global executives conducted by A T Kearney which is a global consulting firm came to the conclusion that the USA was one of the top most destinations all across the globe for FDI.
For three years, India had remained in the second position. It was only in the year 2010 that it went up to the third position. This has been the lowest ranking since the year 2001. The USA made it to the top of the list leaving China behind since Washington worked and also showed improvement towards a stronger and sustainable economy.
In the year 2013, the UPA which was in power back then raised all limits on the Foreign Direct Investment in matters of telecommunication, asset reconstruction, credit formation, aviation and defence production. The report also mentioned that the foreign investment in oil and single brand retail which is at the moment capped at 49% will be given instant approval.
Source - PTI
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