Indian For Ex Reserves Rise For 1st Time In 5 Months to $562.4mn
LM NEWS 24
LM NEWS 24

FDI In India Likely To Touch $100 Billion In 2022-23: Phdcci

Indian For Ex Reserves Rise For 1st Time In 5 Months to $562.4mn

Foreign Direct Investment (FDI) inflow to India is expected to reach $100 billion in the current financial year supported by various ground touching economic reforms and significant ease of doing business in the recent years, PHD Chamber of Commerce and Industry (PHDCCI) said in a report.

In the report titled ‘Economy to Resume Normal Growth Curve in 2022-23’, PHDCCI said India’s economic growth in the current financial year would be the highest among the leading economies across the world.

PHD Chamber of Commerce and Industry President Pradeep Multani said various dynamics reforms undertaken by the government during the last two years would support the GDP growth.

Though GDP growth consolidated at around 9 per cent in FY 2021-22 which is the highest among the leading economies; the current financial year 2022-23 is expected to attain a GDP growth of more than 8 per cent, which is again the highest among the top ten economies, Multani said.

However, according to the PHDCCI president, geopolitical conflicts, high inflation and possibilities of new COVID variants are the major worrying factors in 2022-23.

The PHDCCI report envisages that the nominal GDP will grow at 12-12.5 per cent (8 per cent real GDP and 4-4.5 per cent inflation) in the current financial year and the economy will attain a size of $3350-3400 billion in 2022-23.

The size of the economy is expected to touch $5 trillion by 2026-27, the report noted. (ANI)

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.

Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are essential in order to enable you to move around the website and use its features. Without these cookies basic services cannot be provided.

Cookie generated by applications based on the PHP language. This is a general purpose identifier used to maintain user session variables. It is normally a random generated number, how it is used can be specific to the site, but a good example is maintaining a logged-in status for a user between pages.
  • PHPSESSID

Used on sites built with Wordpress. Tests whether or not the browser has cookies enabled
  • wordpress_test_cookie

In order to use this website we use the following technically required cookies
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Accept all Services
0
Would love your thoughts, please comment.x
()
x