Skip to content
Search

Latest Stories

India among top 10 global economies for FDI in 2021 despite decline in investment to $45 bn: UN

India had achieved foreign direct investment of $ 64 billion in 2020.

India among top 10 global economies for FDI in 2021 despite decline in investment to $45 bn: UN

The United Nations on Thursday said foreign direct investment (FDI) in India declined by $19 billion to $45 billion in 2021. However, despite this, the country remains in the top 10 global economies in terms of FDI.

According to the World Investment Report of the United Nations Conference on Trade and Development (UNCTAD), FDI globally last year improved to pre-pandemic levels and stood at around $1,600 billion.


However, this year the prospects on FDI are not good. Foreign direct investment in 2022 and beyond will be affected by the security and humanitarian crisis caused by the Russo-Ukraine war, macroeconomic shocks, rising energy and food prices, and investor uncertainty.

According to the report, India had achieved foreign direct investment of $ 64 billion in 2020. This came down to $45 billion in 2021. But despite this, India is among the 10 major countries in terms of FDI. India is ranked seventh after the US, China, Hong Kong, Singapore, Canada and Brazil. South Africa, Russia and Mexico are also among the top 10 countries in terms of getting FDI.

“FDI inflows may have come down to $45 billion, but there have been several deals on new international project finance,” it said. Under this, agreements were signed for 108 projects, whereas in the last 10 years its number was on an average 20. The maximum number of agreements were signed for 23 projects in the renewable energy sector.

Major projects include ArcelorMittal Nippon Steel setting up a steel and cement factory in India with an investment of $13.5 billion and Suzuki Motor building a new car manufacturing plant with an investment of $2.4 billion.

Whereas, FDI in South Asia, mainly from India, grew 43 per cent to $16 billion.

According to the report, the Ukraine war will have far-reaching implications in terms of economic growth and international investment towards the Sustainable Development Goals (SDGs) in all countries. This situation has arisen at a time when the world was recovering from the effects of the Corona pandemic.

(PTI)

More For You

BAPS Hindu Mandir

The event, titled “Mandir: The Heart of Community,” was attended by UAE officials, community leaders, and devotees.

BAPS Hindu Mandir in Abu Dhabi celebrates first anniversary with 13,000 devotees

THE BAPS Hindu Mandir in Abu Dhabi marked its first anniversary with a large gathering, coinciding with the UAE’s Year of Community.

The event, titled “Mandir: The Heart of Community,” was attended by UAE officials, community leaders, and devotees.

Keep ReadingShow less
John Major

Major said that American isolationism under President Donald Trump is creating a power vacuum that benefits Russia and China. (Photo: Getty Images)

John Major warns US isolation strengthens Russia and China

FORMER prime minister Sir John Major has warned that democracy is under threat as the United States retreats from its global leadership role.

Speaking to BBC Radio 4’s The World This Weekend, Major said that American isolationism under President Donald Trump is creating a power vacuum that benefits Russia and China.

Keep ReadingShow less
Birmingham-stabbing

A 16-year-old boy was stabbed on Saturday afternoon in Bordesley Green. (Photo: X/@MarioNawfal)

Stabbings on the rise as Birmingham residents protest attack on teen

A RISE in stabbing incidents across the country has raised concerns, with another attack in Birmingham prompting a protest by local residents.

A 16-year-old boy was stabbed on Saturday afternoon in Bordesley Green. West Midlands Police said he was attacked at about 15:30 GMT and was taken to hospital with serious injuries. He is now in stable condition.

Keep ReadingShow less
Indian court sentences man to life for rape, murder of Irish woman
McLaughlin, 28, from County Donegal, was found dead in a field in Goa in March 2017. (Photo credit: Twitter)

Indian court sentences man to life for rape, murder of Irish woman

A COURT in India’s Goa state has sentenced a 31-year-old man to life in prison for the rape and murder of an Irish woman in 2017. The verdict was delivered on Monday, nearly eight years after the crime.

The body of 28-year-old Danielle McLaughlin was found in March 2017 on a beach popular with tourists. An autopsy confirmed that cerebral damage and constriction of the neck caused her death.

Keep ReadingShow less
Michael O’Sullivan

Over his career, Michael O’Sullivan rode 95 winners in Ireland and Britain, including 14 in Ireland and two in Britain this season. (Photo: X/@irishracing)

Irish jockey Michael O’Sullivan dies after fall at Thurles

IRISH jockey Michael O’Sullivan has died after sustaining injuries in a fall at Thurles, Ireland, on 6 February. The 24-year-old had been in an induced coma in intensive care at Cork University Hospital since the incident.

The Irish Horseracing Regulatory Board’s (IHRB) chief medical officer, Dr Jennifer Pugh, confirmed his passing early Sunday morning, BBC reported.

Keep ReadingShow less