India Grossed $230 Bn FDI In Three Years

New Delhi, Oct 5 (KNN) India received over USD 230 billion foreign direct investment (FDI) in the last three financial years, said Union Finance Minister Nirmala Sitharaman on Wednesday.

She said that mostly the FDIs came in the areas of building physical infrastructure and removing logistic bottlenecks.

“Interest of companies to get invested in India and to run businesses here is now very clearly pronounced,” the FM said while addressing the 55th foundation day celebration of the Institute of Company Secretaries of India (ICSI).

Giving details about the FDI received in the country in the recent years, she said, “Most of these investments are coming into physical infrastructure building, most of them are going into removing logistic bottlenecks, improving regional connectivity, increasing port and air capacity and increasing overall efficiencies.”

The FM said decisions taken by the government to make doing business easier have helped in attracting overseas investments in the country.

According to the minister, 39,000 “unnecessary compliances” have been removed while over 1,500 laws have been revoked during Prime Minister Narendra Modi’s tenure to make doing business easier.

She underlined the steps taken by the government like decriminalisation of minor offences, introduction of Insolvency and Bankruptcy Code, simplification of regulatory framework and tax reforms.  (KNN Bureau)