India has surpassed China and emerged as top destination for foreign direct investment (FDI) by attracting $63 billion worth FDI projects in 2015, a recent report claims.
“India was the highest ranked country by capital investment in 2015, with $63 billion-worth of FDI projects announced,” according to FDI Intelligence, a division of The Financial Times Limited.
The report attributed factors like announcement of high-value projects across the coal, oil and natural gas and renewable energy sectors behind India’s emergence as top FDI destination and superiority over China.
The report claimed that there was an 8 per cent surge in project numbers to 697. Major companies such as Foxconn and SunEdison have evinced interest to invest in projects valued at $5 billion and $4 billion, respectively, in India in 2015, it further said.
“India emerges on top in attracting FDI,” Minister of State for Finance Jayant Sinha tweeted.
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