India replaces China as top FDI destination in 2015: FDI Intelligence Report
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Posted on:22 Apr 2016 10:06:55
22 April 2016 Current Affairs: According to FDI Intelligence Report India has replaced China as the top Foreign Direct Investment (FDI) destination by attracting $63 billion worth FDI projects in 2015. FDI Intelligence is a division of international media company – The Financial Times Limited.
Highlights of Report : India was the highest-ranked country by capital investment in the year 2015, with 63 billion dollars-worth of FDI projects announced. It was the biggest change in Greenfield FDI in 2015 was near tripling with an estimated 63 billion dollars. There was an 8 per cent increase in project numbers to 697. The boost in FDI has resulted in a whopping increase in job creation from nearly 1 lakh in 2013 to over 2 lakh jobs in 2015. These high-value projects were specifically announced across the coal, oil and natural gas and renewable energy sectors India has replaced China as the top destination for FDI by capital investment following of high-value project announcements
Among the emerging economies: Greenfield FDI inflow in India and China was followed by Indonesia ($38.5 billion), Mexico ($24.3 billion) and Brazil ($17.3 billion). Top destination states for FDI in 2015 in India: Gujarat was on top which had attracted $12.4 billion. Maharashtra was second attracting $8.3 billion respectively in 2015.
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