New Delhi [India], December 16 (ANI): Minister of State for Finance, Pankaj Chaudhary, has highlighted India's remarkable achievements in attracting Foreign Direct Investment (FDI), with inflows reaching USD 709.8 billion between April 2014 and September 2024.

He attributed this success to the Government's investor-friendly policies, which have made India one of the most attractive destinations for global investors.

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India's FDI policy framework is built on the principle of openness, allowing 100 per cent FDI under the automatic route in most of the sectors.

More than 90 per cent of FDI inflows are received through this route, showcasing the effectiveness of simplified regulations. Strategic initiatives such as increasing FDI limits, removing regulatory barriers, and improving infrastructure have further enhanced the ease of doing business in the country.

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Since 2014, significant reforms across multiple sectors have boosted FDI inflows. In the defence sector, the FDI cap was raised from 26 per cent to 49 per cent, while 100 per cent FDI under the automatic route was permitted in railway infrastructure.

Similarly, the insurance sector has seen its FDI limit progressively increase to 74 per cent, with the pension sector also opening up to foreign investment.

The telecom sector witnessed major liberalization in 2021, allowing 100 per cent FDI under the automatic route. In the manufacturing sector, foreign investments have been permitted under the automatic route, including contract manufacturing.

Other key reforms include easing local sourcing norms for Single Brand Retail Trading (SBRT), allowing 26 per cent FDI in digital media, and liberalizing the space sector in 2024 to attract global players.

The Government has been maintaining detailed data on FDI equity inflows, with state and district-level records available since October 2019. This systematic approach helps in assessing the impact of foreign investments at both macro and micro levels.

The Government's proactive reforms have strengthened India's position as a global investment hub. In 2020, 74 per cent FDI under automatic route was allowed in defence manufacturing, demonstrating India's commitment to advancing domestic capabilities.

Similarly, 20 per cent FDI under automatic route was permitted in Life Insurance Corporation (LIC) in 2022, marking a significant milestone in the financial sector.

These reforms, coupled with India's improving infrastructure and regulatory simplification, have created a robust environment for businesses to thrive.

The emphasis on enhancing sustainability, fostering innovation, and expanding global partnerships ensures that India remains a preferred investment destination.

India's FDI trajectory is expected to remain strong as the Government continues to broaden its policy framework to align with emerging global trends. By opening up strategically important sectors like space and telecom, India aims to attract investments that drive economic growth and innovation. (ANI)

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