Published: 23 Dec 2021 08:14 am
Updated: 23 Dec 2021 08:14 am
New Delhi: Foreign direct investment (FDI) will increase further in 2022. Accordingly, the government is taking steps to facilitate business start-ups, said Anurag Jain, Secretary, Industrial Development and Internal Trade.
The Prime Minister’s Speed Power Plan integrates the most important sectors in a single window. He said in an interview to a private news agency that this would lead to more foreign direct investment in India by 2022.
Foreign direct investment in India in the fiscal year 2020-21 stood at $ 8.171 billion in the context of the global economic downturn caused by the corona spread. It stood at $ 2.737 billion in the April-July period of the current fiscal year, up 62% from the previous fiscal, he said.
The rising level of foreign direct investment is an expression of the confidence that other countries have in India. All the nations of the world want nations that are favorable to them. In that sense, the situation in India is favorable at all levels. He also pointed out that countries around the world want to invest in India.
The government is creating an environment conducive to starting a business in India. Existing restrictions on foreign companies starting businesses in India have been relaxed. In the last few years alone, more than 25,000 conditions have been relaxed. Basically the various conditions and rules that existed have all been simplified. Measures to encourage start-ups, such as a change in foreign direct investment policy, are among the factors that attract foreign investment. He also mentioned that there is a conducive environment for start-ups in India.
So far 19 Ministries and Departments of the Central Government and 10 State Government Departments have been integrated and brought under the single window system. Thus investors can get approval in a single application.