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India surpasses China as top FDI destination

There was an 8 percent increase in project numbers to 697, says report

Policy Pulse
Publish Date: Apr 22 2016 12:19PM | Updated Date: Apr 22 2016 12:19PM

India surpasses China as top FDI destination

 India has piped  China as top destination for foreign direct investment by attracting $63 billion worth FDI projects announced in 2015, a report said.

 
There was also an 8 percent increase in project numbers to 697, according to FDI Intelligence, a division of ‘The Financial Times’.
 
Big firms such as Sun Edison and Foxconn have agreed to invest in projects valued at $5 billion and $4 billion, respectively, in India in 2015, it said.
 
India has 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 added.
 
In a tweet, minister of state for finance Jayant Sinha said: "India emerges on top in attracting FDI".