Sunday, October 22, 2017 | ePaper

India moving forward to become major destination for FDI

  • Print
PTI, Washington :
India, with a young skilled work force, high growth rate and deregulation being undertaken by the government, is set to become an important destination for foreign investment, a former top US trade official has said.
"With the young skilled work force, its growth rate that is going to surpass China for the coming years as well as the market opening and deregulation undertaken by Prime Minister Narendra Modi will make this a really important destination for foreign investment," Wendy Cutler, who was the Acting Deputy US Trade Representative under Obama administration told a Washington audience yesterday.
Speaking at a panel discussion on the occasion of launch of Foreign Direct Investment (FDI) Confidence Index, Cutler said, India under Modi has emerged as among the favourite destinations for foreign investors.
For the second consecutive year, India appears in top 10 of the index. This year, it was placed at eighth spot as against ninth last year.
China has slipped to the third spot. Germany has now become the second top destination in the FDI Confidence Index after the US, which takes the fifth spot for the fifth year in a row.
"Five of the top 10 countries are from Asia. There is a lot of optimism about investment opportunities in Asia, not only among Asian but also global investors as well. Clearly China and India seems to be the cause of this lot of optimism.
India moved eighth on the index," she said.
Cutler said the optimism about investment in China "does not seem to be in line from what we are hearing" from not only the US business community but also the European business community as well.
In her previous stint in the United States Trade Representative, she was responsible for the Trans-Pacific Partnership agreement (TPP), US China trade relations and US India Trade Policy Forum.
"The investment climate is getting worse in China.
Companies are facing a lot of restrictions in China,  hether it be licensing or approval process or favourable treatment of domestic competitors or requirements to share technology. We are hearing from our companies that their optimism is declining," Cutler said.

More News For this Category

Huawei mobile phone shipments exceed 100 mln units in first three quarters

Xinhua, Guangzhou :Huawei said Saturday its mobile phone shipments have exceeded 100 million units, up 19 percent year on year, in the first three quarters this year.The growth raised

Oil prices tick up amid geopolitical tension

Xinhua, New York :Oil prices rose on Friday, as tensions in the Middle East continued to provide support in the market.The Iraqi military said on Friday the Kurdish Peshmerga

China to achieve annual economic growth target

Xinhua, Beijing :China's economy is expected to attain or surpass the government's annual growth target of around 6.5 percent this year, a chief economic planner said Saturday."The growth target

Macedonian economy to grow by 1.5 pct in 2017: World Bank

Xinhua, Skopje :Macedonia is expected to register a 1.5 percent economic growth in 2017, the World Bank said Friday in its latest projection on Macedonia's 2017 GDP growth.In its

US dollar rises on tax-reform hopes

Xinhua, New York :The US dollar jumped against most major currencies Friday amid rising expectations for a tax reform in the country.US Senate Thursday passed a budget resolution for

US deficit grows to $666b as lawmakers eye tax cuts

AFP, Washington :The US budget deficit grew to $666 billion in just-ended fiscal year 2017, according to official data released Friday, after lawmakers took a step toward enacting $1.5

Basic Bank Limited of Saidpur Branch, Nilphamari publicly distributed agricultural loans of Tk 10 lakh among the farmers at  at the branch office of the bank recently. Rajshahi Krishi Unnayan Bank Saidpur Branch Manager Md. Abdus Salam Khan was also present.  Ikhwanul Islam,  assistant general manager and chief of Saidpur branch of the bank presided.

Basic Bank Limited of Saidpur Branch, Nilphamari publicly distributed agricultural loans of Tk 10 lakh among the farmers at at the branch office of the bank recently. Rajshahi Krishi Unnayan Bank Saidpur Branch Manager Md. Abdus Salam Khan was also present. Ikhwanul Islam, assistant general manager and chief of Saidpur branch of the bank presided.

.

'No-deal' scenario: What happens if Brexit talks fail?

AFP, London :Higher food prices, grounded flights and City job losses: catastrophic predictions of Britain crashing out of the EU with no deal in place abound despite the more

Mexico sees "room" for NAFTA deal despite gaps

Xinhua, Mexico City :Mexico believes the three parties to the North American Free Trade Agreement (NAFTA) can reach a deal to update the terms of the accord, despite their

BIAC to assist BTI in settling disputes thru ADR

BIAC to assist BTI in settling disputes thru ADR

Business Desk :Muhammad A (Rumee) Ali, Chief Executive Officer of BIAC, and FR Khan, Managing Director of bti, shaking hands after signing an agreement in Dhaka on behalf of