India will continue to attract high foreign investments, says Piyush Goyal
The country will continue to attract high foreign direct investment (FDIs) in the current financial year, commerce and industry minister Piyush Goyal said on Saturday.
“This year, we are very confident that we will continue this streak of seven continuous years of historic highs in our foreign investments,” Goyal said at the CII-Horasis India Meeting webinar.
He said India received highest FDI in Covid-impacted 2020 even as investment inflows shrunk globally.
In 2020-21, FDI into the country grew 19 per cent to $59.63 billion. Total FDI, including equity, re-invested earnings and capital, rose 10 per cent to $81.72 billion during 2020-21 against $74.39 billion in 2019-20.
Exports, too, are recording healthy growth. During July 1-21, exports crossed $22 billion and is “poised to cross $32-33 billion by the end of the month (July), which means our run rate is on track to achieve $400 billion of exports target for the first time ever”.
Further, Goyal said India was in talks with 16 countries, including the UK, the EU, Australia, Canada and the UAE, for trade agreements.