The International Monetary Fund (IMF) has given some tips to attract foreign investment in India.
- India has received $ 40 billion FDI so far this year
- Companies like Google and Facebook are investing in Jio platform
Concerted efforts to improve the business environment and encourage investment have helped India attract investment, but these measures are not enough. The International Monetary Fund (IMF) has expressed this opinion. With this the IMF has said that India still needs more economic reforms to attract investment.
IMF chief spokesman Gerry Rice said that India needs more economic reforms
This was said by the IMF
He said, “India needs to add more infrastructure in addition to further improvement in the field of labor, land etc.” In our view, through these reforms, India will be able to attract more investment and move faster on the path of inclusive growth. “
India made strong efforts
However, Rice also said that India has made strong efforts in recent years to attract investment. The business environment has been improved and measures have been taken to attract investment in the business. These have helped in attracting investment.
He said that India has made reforms like the Bankruptcy Code, Goods and Services Tax. This has improved India’s position in ranking ease of business of World Bank. India has moved to 63rd position in the Ease of Doing Business Rankings in 2020, while in 2018 it was ranked 100th. This is a significant improvement.
many international companies have committed up to $ 20 billion of Foreign Direct Investment (FDI) in India. This year, India has received FDI of 40 billion dollars so far. Only companies like Google and Facebook are investing in Reliance Industries’ Jio platform.