Foreign Direct Investment (FDI) inflows into the country touched a new high of $60.08 billion in 2016-17.
Inflows grew by 8 per cent over the previous high of $55.6 billion posted in 2015-16, according to figures released by the Department of Industrial Policy & Promotion on Friday.
“Increased FDI inflows in the country are largely attributed to intense and bold policy reforms the government undertook to bring pragmatism in the FDI regime. The country has now become the topmost attractive destination for foreign investment,” the release said.
In the last three years since the NDA government came to power, 21 sectors covering 87 areas of FDI policy have undergone reforms.
“A new direction was given to FDI policy reforms in 2014 itself when conservative sectors such as rail infrastructure and defence were liberalised. This was accompanied by reforms in other sectors such as medical devices and construction development,” the release added.