Blitz Bureau
INDIA is emerging as a top destination for foreign investment in the manufacturing sector and in the last decade, foreign direct investment (FDI) inflows in the sector surged almost 69 per cent to reach $165.1 billion, according to the government.
Jitin Prasada, Minister of State for Commerce and Industry, informed that FDI equity inflow in the manufacturing sectors in the last 10 financial years (2014-24) has increased by 69 per cent to $165.1 billion as compared to $97.7 billion in the previous 10 financial years (2004-14).
In a reply to a question in the Rajya Sabha, the minister said that the total FDI inflow of $383.5 billion came during the past five financial years (2019- 20 to 2023-24) alone, mainly driven by production-linked incentive (PLI) schemes.
According to a latest HSBC survey, the manufacturing activity in India continued to expand at a robust pace in July on the back of strong domestic demand and new export orders.
