India Pips China as Top FDI Destination

India has replaced China as top destination for foreign direct investment (FDI) by attracting $63 billion worth FDI projects in 2015. “India was the highest ranked country by capital investment in 2015, with $63 billion-worth of FDI projects announced,“ according to fDi Intelligence, a division of The Financial Times.
Also there was an 8% increase in project numbers to 697. Major companies such as Foxconn and SunEdison have agreed to invest in projects valued at $5 billion and $4 billion, respectively, in India in 2015, it said. “India replaced China as the top destination for FDI by capital in vestment following a year of high-value project announcements specifically across the coal, oil and natural gas and renewable energy sectors,“ the report said.
It said the biggest change in greenfield FDI was the near tripling of greenfield FDI into India, at an estimated $63 billion. “In 2015, India was for the first time the leading country in the world for FDI, overtaking the US (which had $59.6 billion of greenfield FDI) and China ($56.6 billion),“ the report noted.
Minister of state for finance Jayant Sinha tweeted: “India emerges on top in attracting FDI.“
Of the top 10 destination states for FDI in 2015, India claims five places, with the top place going to Gujarat, which attracted $12.4 billion.

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