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India emerges most favorite global investment destination

A new report by global accountants Ernst & Young (E&Y) shows India as the most attractive investment destination ahead of China. Researchers point to a number of factors including the recent slew of reforms that resulted in the relaxation of foreign direct investment (FDI) rules that has contributed to a boost in global investor sentiment. “With sharp currency depreciation and opening up of FDI in various sectors, India has become an attractive destination for foreign investors,” say the report’s authors. EY’s ninth bi-annual capital confidence barometer, based on a survey of 1,600 senior executives across more than 70 countries, has ranked India as the most attractive investment destination followed by Brazil, while China is at third place. The top three investing countries into India are the US, France and Japan. Foreign Direct Investments (FDI) from the US, France and Japan during the period April 2000 to August 2013 amounted to Rs. 53,673 crore, Rs. 17,718 crore and Rs. 71,870 crore, respectively.While Canada has cornered fourth spot, the US is placed at fifth position. Other nations in the top ten are South Africa at 6th, Vietnam on 7th, Myanmar 8th, Mexico 9th and Indonesia at 10th. With the Indian General Election 2014 around the corner, a lot remains uncertain for the Indian economy but foreign investor confidence for the long term outlook remains extremely positive.  

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