FDI in India grew by 6% to $42bn in 2019: UN report
India TV NewsForeign Direct Investment in India grew by 6 per cent to $42 billion last year, according to the UN Conference on Trade and Development. "Investment was strong in manufacturing, communication and financial services -- the top three industry recipients," said the UNCTAD World Investment Report 2019 released on Wednesday. Zhan, who led the report team, said that an impetus for FDIs came from the new development of India abolishing approval procedures for foreign companies in areas like defence, telecommunications, and private security that want "to open branch offices under certain conditions in the country". While India has over 200 new zones in the pipeline, the report said that "growth may lose momentum now that permits for a substantial number of zones have been retracted". "Multi-national companies trying to restructure their global value chains in East Asia and trying to establish new investment facilities for export-oriented production in South and Southeast Asia, such as India and Bangladesh in South Asia and Vietnam, Indonesia, Thailand, Singapore in Southeast Asia," he said.