According to the World Investment Report 2012 released by United Nations Conference on Trade and Development (UNCTAD) on 5 July 2012, India emerged as the third most preferred Foreign Direct Investment (FDI) destination in the world. The first position was occupied by China followed by US.
The report noted that FDI inflows to India had increased by 33 percent in 2011 to 31.6 billion dollar vis-à-vis 24.2 billion dollar in 2010. The FDI, however, continue to be much less than that received by China (123.9 billion dollar). The report further observed that foreign investment in India escalated for the first time in three years in 2011, as global business majors reinstated their faith in India’s resilient economy and rapidly expanding middle-class.
After receiving 43.4 billion dollar FDI inflows in 2008, which was also the highest received by India in a year the FDI inflow slipped to 35.5 billion dollar in 2009 and 24.2 billion dollar in 2010.
Indonesia, Brazil, Australia, UK, Germany, Russia and Thailand were the other countries who made it to the list of top ten investment destinations in the world.
The report, was released by United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) chief economist Nagesh Kumar. UNCTAD conducted a survey of 179 top global business houses, where they were asked about their favourite destination for business investment.
Comments
All Comments (0)
Join the conversation