NEW DELHI: India saw a record 53 per cent increase in FDI in last two years as the investment climate brightened due to steps taken to foster growth, price stability and fiscal prudence which also improved the overall macroeconomic stability, government said on Friday.
Emphasising that investments are not made for “charity”, finance minister Arun Jaitley told the Lok Sabha that improving the ease of doing business was a “work in progress”.
In the last two years, there has been 53 per cent rise in FDI into the country, which is a record high, Jaitley said during Question Hour, adding that “comprehensive reforms in FDI have resulted in the highest ever FDI inflow in 2015-16”.
“Steps taken by the government to foster economic growth, price stability and fiscal prudence have improved the overall macroeconomic stability, which brightens the investment climate in the country,” the Minister said.
Stating that investors are not making investments for “charity”, the minister said, “if we say that profits cannot be taken… then nobody will come to invest (in the country)”.
The minister’s response came to a query on how much money foreign investors would have taken back by way of dividends and royalties.
(Sourced from agencies, Feature image courtesy:oneindia.com)
