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Union Minister Piyush Goyal has said that the recent surge in Foreign Direct Investment (FDI) in the country reflects the growing attractiveness of the Indian economy to global investors.
He highlighted that investors from across the world have announced plans to invest over Rs 50,000 crore in India's finance and banking sector. In a social media post, Goyal stated, "In the last few months itself, investors from all over the world have announced plans to invest over Rs 50,000 crore in India's finance and banking sector." Goyal stated that amidst global headwinds, Bharat has become an oasis for investments. He said that India is emerging as a preferred investment destination even during turbulent times, as FDI continues to flow robustly into the country. This strong inflow, he added, is being driven by the visionary reforms introduced by Prime Minister Narendra Modi and the government's consistent efforts to build a strong foundation for the financial and banking ecosystem. The minister noted that in the last few months itself, major investors have shown strong interest in India's finance and banking space, announcing investments worth over Rs 50,000 crore. He emphasized that this surge in FDI not only demonstrates growing global confidence in India's economic potential but also strengthens the nation's progress towards achieving the vision of Viksit Bharat 2047. According to Goyal, India's policy stability, reform-oriented governance, and robust financial infrastructure continue to make it one of the most attractive destinations for global investors. Earlier, Minister Goyal on Saturday expressed confidence that India will see positive growth in exports this fiscal despite the uncertainties in global trade. Addressing a joint press conference in the national capital on the impact of rate rationalisation of the Goods and Services Tax (GST), Union Minister said despite all these uncertainties, export has grown by about six per cent or seven per cent overall, "and even in merchandise, we have seen a good story of India in the first six months." "There is resilience, there is confidence, there is demand for our goods and services across the world, and India will continue on this growth trajectory," the Union Minister said. According to the official data released on October 15, India's merchandise export in September was up 6.75 per cent at USD 36.38 billion compared to USD 34.08 billion on a year-on-year (YoY) basis. However, merchandise imports increased by 16.7 per cent to USD 68.53 billion, compared to USD 58.74 billion on a year-over-year basis, according to the data. (ANI)
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