(PTI)
Union Budget 2019: India has received massive foreign direct investment worth USD 239 billion in the last five years on account of a stable and predictable regulatory regime, growing economy and strong fundamentals, Finance Minister Piyush Goyal. “Due to a stable and predictable regulatory regime, a growing economy and strong fundamentals, India could attract massive amount of foreign direct investment during the last five years, as much as USD 239 billion worth received as FDI.
“This period also witnessed a rapid liberalisation of the FDI policy allowing most FDI to come through the automatic route,” the minister said in his budget speech for 2019-20. The government has relaxed foreign investments norms in several sectors, including single-brand retail, defence, airlines and food processing. The main sectors that receive the maximum foreign inflows include services, computer software and hardware, telecommunications, trading, construction, automobile, and power.
