NEW DELHI: India has replaced China as a top destination for foreign direct investment by attracting $63 billion worth FDI projects announced in 2015, says a report.
Also, there was an 8% increase in project numbers to 697, according to fDi Intelligence, a division of The Financial Times.
Major companies such as Foxconn and SunEdison have agreed to invest in projects valued at $5 billion and $4 billion, respectively, in India in 2015, it said.
India replaced China "following a year of high-value project announcements specifically across the coal, oil and natural gas and renewable energy sectors", the report said.
"In 2015, India was for the first time the leading country in the world for FDI, overtaking the US (which had $59.6 billion of greenfield FDI) and China ($56.6 billion)," the report noted.
congrats to BJP govt for putting India on top of the stage
No doubt,It is a big achievement of Modi government.
vinay kumar Gupta
India under leadership of Modiji is doing wonders its only the paid media who cant see the development which the country is making..
Congrats to PM and his cabinet
congratulations... continue it for
years to come
Where are those hiding who were asking questions on PM's foreign visits.. This is Modi Sarkar for you.. Bring BJP everywhere in India and see the progress..
Credit goes to PM
Congrats to Mr.Modi and his cabinet... Thanks to people of India for making right choice at right time.
Vishnu Swaroop Kyanam
Good News. India on the March Finally. Jai Modiji and Jai Hind
Long live Modi !
future is india....
we Indians need just one tiny bright spot of a news and we forget all our problems!
if this is not evidence of PM Modi's diplomatic success, then what is? The opposition keeps talking about Modi's foreign jaunts, this is the answer to them for them to perennially shut their foul mouths. What good has the more frequent jaunts of Rahul Gandhi abroad brought to the country? Nothing except perhaps for his own private illegitimate funds transactions.
'Modi is a man of action'-Obama. True isn't it?
wasn't the same BJP party opposing FDI when UPA was in govt??