India: A Lucrative FDI Destination
India is poised to attract USD 100 billion in foreign direct investments from EFTA nations, as announced by Union Commerce Minister Piyush Goyal. He emphasized the need for competitiveness and innovation, supported by a Rs 1 lakh crore innovation fund. Key initiatives aim at enhancing India's edge as a global hub.
- Country:
- India
India continues to stand out as a prime spot for overseas investments, with expectations to draw USD 100 billion in foreign direct investments (FDIs) from EFTA countries, according to Union Commerce and Industry Minister Piyush Goyal.
During an Assocham Managing Committee meeting, he stressed the urgency for India to remain competitive, benefiting from a free trade agreement with the European Free Trade Association, effective from October 1.
Highlighting initiatives like the Rs 1 lakh crore innovation fund, Goyal showcased plans to further India's R&D, lifting manufacturing and employment through strategic foreign partnerships and empowering Micro, Small, and Medium Enterprises (MSMEs).
(With inputs from agencies.)
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- India
- FDI
- EFTA
- Piyush Goyal
- investment
- technology
- innovation
- MSME
- global capability
- trade agreement
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