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India is on monitor to draw USD 100 billion overseas direct funding (FDI) within the present fiscal on account of financial reforms and ease of doing enterprise, the federal government stated on Saturday.
In 2021-22, the nation obtained the “highest ever” overseas inflows of USD 83.6 billion.
“This FDI has come from 101 nations, and invested throughout 31 union territories and states and 57 sectors within the nation. On the again of financial reforms and Ease of Doing Enterprise in recent times, India is on monitor to draw USD 100 billion FDI within the present FY (monetary yr,” the commerce and business ministry stated in an announcement.
It stated that to draw overseas investments, the federal government has put in place a liberal and clear coverage whereby most sectors are open to FDI beneath the automated route.
The reform measures embrace liberalization of tips and laws, as a way to scale back pointless compliance burden, convey down price and improve the convenience of doing enterprise in India, it added.
FDI fairness inflows in India dipped by 6 per cent to USD 16.6 billion throughout April-June interval of the present fiscal.
It additionally stated that to handle the import of low-quality and unsafe toys and to boost home manufacturing of toys, a number of strategic interventions have been taken by the federal government.
The import of toys in 2021-22 have lowered by 70 per cent to USD 110 million (Rs 877.8 crore). However, exports rose by 61 per cent to USD 326 million.
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