PM Modi's Foreign Trips Got $19.78 Bn FDI to India In 2014-15

By siliconindia | Monday, 21 September 2015, 11:51 Hrs

BENGALURU: The world is by far aware of PM Narendra Modi’s U.S. visit starting 24^th, September. However, not many know the core intent behind this visit, which is also one of the most important foreign tours taken by the Prime Minister.

U.S. is indeed one of the top notch and major trade partners of India, moreover this is going to be Modi’s last U.S. trip during Obama’s tenure.

During his 6-days U.S. visit, Modi will be focusing on increasing Foreign Direct Investment(FDI) opportunities in India; keeping a note on how his government improved the FDI scene in India with rise upto $19.78 last year. This reflects a growth in FDI upto 27percent than the year before.

It has been observed that, the boost in FDI was witnessed in India since the launch of Make in India program— Modi government’s initiative, which came into force in September 2014. Department of Industrial Policy and Planning confirmed increase upto 48percent in FDI in the span of October 2014 and April 2015.

Modi’s itinerary includes rendezvous with Indian origin business tycoons such like Shantanu Narayen, Satya Nadella, Sundar Pichai and many more.

While many criticize the PM’s frequent visits abroad, ex-CII (Confederation of Indian Industry) mentor Tarun Das justifies Modi’s take stating that, "Foreign firms had switched off India in the last couple of years (of the previous government) but they have been upbeat in the past year."

Das, in an interview with ET said, "A big change has been brought in the approach towards foreign investors by the PM deciding to meet individual CEOs of global business giants. When domestic investments are constrained and Indian banks have huge NPAs, FDI is the key to boosting economy."

Das expressed that simplification in tax structure can further portray India, a better hotspot for FDI investments.