India plans to attract $100 bn a year in gross FDI

(20 second reading) India aims to attract at least $100 billion a year in gross FDI as many investors, multinational companies are looking to diversify away from China, Rajesh Kumar Singh, secretary in the Department for Promotion of Industry and Internal Trade, said.
The target is way up from the annual average of more than $70 billion in FDI in the last five years through March 2023. Last year, India saw a dip in its FDI due to global uncertainties and other factors.