India has emerged as the most favoured destination for foreign direct investment (FDI) in 2015 so far, outpacing China and the US, London-based business daily Financial Times (FT) said in a report on Tuesday.
FDI inflows into India during January-June stood at $31 billion, ahead of China’s $28 billion and the US’s $27 billion.
India also jumped 16 notches to 55 among 140 countries in the World Economic Forum’s Global Competitiveness Index that ranks countries on the basis of parameters such as institutions, macroeconomic environment, education, market size and infrastructure among others.
According to data from FDI Markets, an FT data service, FDI inflow into India grew 47% to $24 billion in 2014.
India’s Foreign Investment Promotion Board, the nodal authority that scrutinises overseas investment proposals, cleared 18 proposals worth about Rs 5,000 crore.