April 8, 2024
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(20 second reading) India aims to attract at least $100 billion a year in gross FDI, Rajesh Kumar Singh, secretary in the Department for Promotion of Industry and Internal Trade, said in an interview in New Delhi., as the South Asian nation courts investors looking to diversify away from China.
The ambitious target compares with an annual average of more than $70 billion in FDI in the five years through March 2023.
The Companies like Apple Inc. and Samsung Electronics Co. have boosted manufacturing in India, taking advantage of incentives offered by Prime Minister Narendra Modi’s government.
