India Offers Best Investment Opportunity that can’t be missed says, Piyush Goyal

According to Commerce and Industry Minister Piyush Goyal, India provides the best investment opportunity and destination for businesses, saying the time is ‘just ripe’ for the US and India to take part in areas of mutual interest. On Monday, while addressing industry leaders, the minister said that both countries could bolster global security, stability and resilient supply chains. 

During the US India Strategic Partnership Forum (USISPF) meeting, he stated that US-India relation offers various competitive advantages. The resilience of the supply chains of both countries and the way talent India has provided to the US, and the investments that US has provides to India make a great business case. 

He also added that India is a destination that they can’t miss. It is a market of billion plus aspirations. Goyal said the time has come to engage in areas of mutual interest by inviting American businesses to invest in India. 

Foreign direct investment objectivity inflows into India stood at USD 16.59 billion from April-June this year as against USD 17.56 billion in the same time last year. As per the official reports which were released in May, India recorded the “highest” ever annual FDI inflow of USD 83.57 billion in 2021-22.

The government analyses the FDI policy on an ongoing basis and makes some particular changes from time to time to ensure that India remains an investor-friendly and appealing destination for businesses. 

Some specific goods like automobiles and scotch, automobiles from the UK, and certain products from India. India’s main exports UK includes ready-made garments and textiles, engineering goods, transport equipment and parts, metal products, machinery, pharma, marine items and many more. However, FDI norms have been diminished in several sectors like coal mining, digital media, civil aviation, defence, contract manufacturing, single brand retail trading, insurance and telecom.

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