India aims to receive $100 bn worth foreign direct investment (FDI) in the next two years and is creating special industrial clusters for countries like China, Japan, South Korea, China and Russia, according to Indian Commerce and Industry Minister Suresh PrabhuThe Ministry has identified sectors and countries that hold huge potential for foreign investment.
The Ministry will organise road shows to attract investors, Prabhu told. China has agreed to set up industrial parks in India and the Chinese authorities have been asked to give a list of companies willing to set up factories here, he said. India would also enjoy welcoming firms from Europe and the United States that want to shift their manufacturing bases from other countries to India, Prabhu said.
The sectors that received maximum FDI in 2018 include services, computer hardware and software, construction development, trading, automobile, pharmaceuticals, chemicals, and power. The ministry has started ranking states for their ease of doing business and will now help the States undertake a similar exercise for their districts.