In FY’19, India got the highest-ever FDI
According to the Annual Report 2018-19 put together by the Department for Promotion of Industry and Internal Trade (DPIIT), India received the highest-ever FDI inflow of US$ 64.37 billion during FY’19. The findings also suggest that in past five years, India was the recipient of foreign direct investments US$ 286 billion. The report attributed this to the path-breaking reform measures undertaken during the last financial year to make the country investor-friendly. Underpinning the imperative role played by FDI, the report noted that foreign inflows draw resources, the latest technology and best practices to give an impetus to a country’s economic growth.
DPIIT also stated that the government has devised an action plan to promote Indian geographical indications in order to help supplement the incomes of farmers, weavers, artisans and craftsmen.