Foreign investors trust in Modi government, United Nations report – India is among the top 10 economies of the world in terms of FDI

Indian economy is progressing strongly under the leadership of Prime Minister Narendra Modi. Despite all the challenges posed by the Corona epidemic, the confidence of foreign investors in the Indian economy remained intact in 2021. As a result, there was continuous foreign investment in India. In a report released on Thursday (09-06-2022), the United Nations said that Foreign Direct Investment (FDI) in India stood at $ 45 billion in 2021. Despite this, India remains among the top 10 global economies in terms of FDI.

According to the World Investment Report of the United Nations Conference on Trade and Development (UNCTAD), India is ranked seventh after the US, China, Hong Kong, Singapore, Canada and Brazil. South Africa, Russia and Mexico are also among the top 10 countries in terms of getting FDI. It said that several deals have been done for new international project finance. Under this, agreements were signed for 108 projects, whereas in the last 10 years its number was on an average 20. Most of the agreements were signed for 23 projects in the renewable energy sector. Many foreign investors invested in large projects in 2021.

These include ArcelorMittal Nippon Steel setting up a steel and cement factory in India with an investment of $13.5 billion and Suzuki Motor building a new car manufacturing plant with an investment of $2.4 billion. At the same time, FDI in South Asia, mainly from India, grew 43 percent to $ 16 billion. Significantly, last year FDI improved to the pre-epidemic level and stood at about $ 1,600 billion globally. Under the leadership of Prime Minister Narendra Modi, the country’s economy remains very strong even in times of Corona and Ukraine crisis. Rating agency Moody’s Investors Service has projected India’s growth rate to be 8.8 percent in the year 2022.
Along with this, the growth rate for the year 2023 is projected to be 5.4 percent higher than other developed countries. The rating agency said that strong credit growth, announcement of massive investments by the corporate sector and increased allocation on capital expenditure by the government indicate investment strength. Moody’s has said that if there is no further increase in global crude oil and food prices, then the economy may see further growth. Despite the negative impact, India will continue to be the fastest growing major economy.

The United Nations, in its recent report on the state of the global economy, has projected the growth rate of the Indian economy to be 6.4 percent in the year 2022. Whereas the report has projected the global economy to grow at a rate of 3.1 percent in the year 2022. The report said that India is in a better position in this matter. Rating agency ICRA (ICRA) has said that in the first quarter of the current financial year, April-June 2022, the Indian economy will grow at the rate of 12-13 percent. According to ICRA, the Business Activity Index reading in April was the second highest in 13 months, due to which the economy is expected to grow at 12-13 per cent in the June 2022 quarter. By the way, in the midst of the ongoing war between Russia and Ukraine, due to RBI’s strict monetary policies and inflation, GDP growth can be 7.2 percent in the full financial year 2022-23.

Under the leadership of Prime Minister Narendra Modi, the country’s economy remains strong even during the Corona epidemic and Russia-Ukraine crisis. Confederation of Indian Industry (CII) President TV Narendran said that the Indian economy can grow at the rate of 7.5 to 8 percent in the current financial year 2022-23. They will have a major role in the development of exports. He said that this year the economy will see good growth, so we are very optimistic on the export front. Narendran said that the growth forecast for the current financial year remains in the range of 7.5 to 8 per cent. The International Monetary Fund has placed its growth forecast for India at 8.2 percent.

The Indian economy is growing faster than other countries of the world due to the strategic reforms of the Modi government and the acceleration in the corona vaccination campaign. According to the International Monetary Fund’s (IMF) World Economic Outlook report, India will continue to be the world’s fastest growing major economy in 2022 with a growth rate of 8.5 percent. The special thing is that in 2022, except India, in no other country, this growth rate has been projected to go above 6 percent. India has left China and America far behind in terms of economic growth rate.

The International Monetary Fund (IMF) has said that India-led South Asia is moving towards becoming the center of global growth and by 2040 it alone could account for one-third of the growth. A recent IMF research document said that by successfully leveraging infrastructure improvements and a young workforce, it could contribute up to a third of global growth by 2040. Anne Marie Gulde Wolff, Deputy Director of the IMF’s Department of Asia and the Pacific, said that we see South Asia moving forward as a global growth hub.

Global consulting firm KPMG said that in the year 2022, the world’s fastest growing