India's FDI Regime Most Liberal In World: NITI Aayog CEO
NITI Aayog CEO Amitabh Kant said the country has continued to attract a huge amount of investments
India's foreign direct investment (FDI) regime is the most liberal in the world, NITI Aayog CEO Amitabh Kant said. "Our FDI regime is the most liberal in the world. We have continued to attract a huge amount of investments," Mr Kant said, while addressing the Mission 2020 summit organised by the Confederation of Indian Industry (CII). "During the pandemic itself, the country attracted over $22 billion worth of foreign direct investments into India. Almost 98 per cent of it comes through automatic route," he said.
"India has jumped nearly 79 positions in World Bank's ease of doing business. Our hope is that this year we will get into the top 50 and by next year we will get into the top three," he said.
Regarding the coronavirus-related situation prevailing worldwide, Mr Kant said that after the pandemic, India will need to focus on lives and livelihoods, and economic revival in particular.
The summit emphasised on reinventing technology in India combining the best of local and global talent, innovation and capital.