New Delhi, Aug 25 (UNI) India has received foreign direct investment (FDI)of 20 billion dollars in January-June and expects the inflow to top the 40 billion dollars mark at the year-end, a senior government official said today.
" We have seen an FDI inflow of 20 billion dollars in the first six months of this calendar year and we expect the inflow to top the USD 40 billion mark during the 12-month period," said Ajay Shankar, Secretary, Department of Industrial Policy and Promotion(DIPP).
He attributed the strong growth in FDI to a high degree of competitiveness in manufacturing and quality of Indian companies, including Indian subsidiaries of foreign companies, in the last four to five years.
This, he added, has caught the attention of the world and foreign companies are now confident that they can move into India to manufacture and export competitively from India.
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