India has been witnessing an annual rise in foreign direct investment (FDI), which was at $34.90 bn till November of this fiscal, parliament was informed recently. FDI stood at $62 bn in fiscal 2018-19, at $60.90 bn in 2017-18 and $60.22 bn in 2016-17, Minister of State for Finance Anurag Thakur said in the upper house. In spite of a global contraction in FDI inflows, FDI into India has significantly improved over the past decade to $62 bn, which accounts for 2.37 per cent of GDP in 2018-19 fiscal, he said.
Investor confidence has gone up after the government took measures to improve ease of doing business and for comprehensive reforms in the FDI policy, and introduced the Insolvency and Bankruptcy Code, 2016, a report quoted him the junior Minister as saying.
