However, that could only be for sectors where 100 per cent FDI is allowed under the automatic route and pose no risk to national security.
Nomura Group Study found that in 2019, out of the fifty-six companies which shifted their production out of China, only three of these invested in India; while 26 went to Vietnam, 11 to Taiwan, and 08 to Thailand. In April 2020, Nikkei noted that out of the 1,000 firms which were planning to leave China and invest in Asian countries, only 300 of them were seriously thinking of investing in India.
Why India is an FDI magnet. The country satisfies several reconditions to attract FDI.
Mr Prabhu has a big challenge ahead in implementing trade reforms to regain the lost export momentum, says Jayanta Roy.
The government is working to expedite clearances to $12 billion project of steel major Posco in Odisha that was awarded environment clearance last week, Commerce and Indutry Minister Anand Sharma said on Tuesday.
Investors expect more investment-friendly policies opening up more sectors for foreign direct investment
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