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State leads with highest FDI at 29%: Fadnavis cites report
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Maharashtra has emerged as the leading state in attracting foreign direct investments (FDI), leaving behind Karnataka and Gujarat, shows the Department of Industrial Policy and Promotion (DIPP) report for FDI between January and March 2023.
Deputy Chief Minister Devendra Fadnavis, who holds a crucial financial portfolio, said on Monday, “I am extremely happy to announce that Maharashtra has become the number one state in attracting the highest FDI… The DIPP report, which was made public, shows that Maharashtra is drawing a maximum 29 per cent FDI. In comparison, Karnataka has bagged 24 per cent and Gujarat 17 per cent.”
While addressing the press in hometown Nagpur, Fadnavis said, “We were always optimistic about the state’s leadership potential when it came to investments, both domestic and FDI.”
“Unfortunately during the Maha Vikas Aghadi (MVA) government, which governed for 2.5 years, Maharashtra was found lagging behind due to lack of confidence amongst the investors. There was a lack of leadership. The MVA regime was marred by corruption and blackmailing, which dented the state’s image amongst investors — both at home and abroad,” explained Fadnavis.
“Since our government was formed on June 30 last year, I had promised to make Maharashtra the country’s leader. Our thrust on good governance has created conducive atmosphere, which is integral for investments in any state.” The DIPP report shows, he revealed, “Maharashtra ahead with 29 per cent FDI. Its nearest rival is Karnataka at 24 percent, followed by Gujarat at 17 per cent.”
Although the DIPP report has brought a huge relief to the state government, the Opposition has not lowered its guard against the Shinde-Fadnavis coalition. MVA leaders were quick to point out how the Vedanta-Foxconn project, which promised Rs 1.50 lakh crore investments, was forcibly relocated to Gujarat.
FAQs
Maharashtra has emerged as the number 1 State in attracting FDI, drawing 29% investment, beating Gujarat (17%) and Karnataka (24%),” Mr. Fadnavis said.
Which state has highest FDI? ›
Maharashtra got highest FDI at 39% of total investment in country: Bais.
What country has the highest level of FDI stock in the US? ›
In 2022, no country had a higher foreign direct investment (FDI) position in the United States than Japan, followed by the United Kingdom and Canada.
What is the largest destination of FDI? ›
The United States has been ranked as the top destination for foreign direct investment for the 12th consecutive year according to Kearney's Global Business Policy Council's 2024 Foreign Direct Investment (FDI) Confidence Index .
Who has the highest outward FDI? ›
The US has invested abroad more than any other country. The world's largest economy had accumulated more than $8tn of outward FDI at the end of 2022, down by 17.6% from the previous year. No other source country has ever exceeded the US's outbound FDI stock, which reached $1tn in 1993.
Which are the top 3 destination states for FDI? ›
Karnataka is the top recipient state with 38% share of the total FDI Equity inflow reported during the FY 2021-22 followed by Maharashtra (26%) and Delhi (14%).
Which state has the most investment? ›
Maharashtra, with an increase of 16.9 per cent, has the largest investor pool in India, with over 1.48 crore registered investors as of December 25. Uttar Pradesh overtook Gujarat and now stands 2nd in the list of states with the most investors.
What is the U.S. FDI statistics? ›
The foreign direct investment in the United States position increased $216.8 billion to $5.25 trillion at the end of 2022 from $5.04 trillion at the end of 2021.
Which are the top 5 countries for FDI? ›
Mauritius (26%), Singapore (23%), USA (9%), Netherland (7%) and Japan (6%) emerge as top 5 countries for FDI equity inflows into India FY 2023-24. Top 5 sectors receiving highest FDI Equity Inflow during FY 2023-24 are Services Sector (Finance, Banking, Insurance, Non Fin/ Business, Outsourcing, R&D, Courier, Tech.
What U.S. companies are leading in FDI? ›
Amazon is the leading global investor
US-based logistics giant Amazon remained the leading parent company for FDI in 2021 for the second year running, according to the Global FDI Annual Report 2022.
The best country to invest in 2023 depends on your individual circ*mstances and investment goals. However, some of the most promising countries for investment include the United States, China, India, and Brazil. These countries are all experiencing strong economic growth and have a large and growing population.
What is the most attractive investment destination in the world? ›
New Delhi: India was seen to be the fifth preferred destination to invest after the US, China, Germany and the UK, moving up four places from last year, a survey by consulting and audit firm PwC said. “Global perception validates India's position as an investment destination…
What attracts investors to a country? ›
Investors look for a stable and predictable business environment when considering investing in a country. This means having a transparent regulatory framework, clear laws and policies, and consistent implementation of those policies.
What does FDI stand for? ›
Foreign direct investment (FDI) is a category of cross-border investment in which an investor resident in one economy establishes a lasting interest in and a significant degree of influence over an enterprise resident in another economy.
What are the two main types of FDI? ›
Types of Foreign Direct Investment
- With a horizontal FDI, a company establishes the same type of business operation in a foreign country as it operates in its home country. ...
- In a vertical FDI, a business acquires a complementary business in another country.
Types and Examples of Foreign Direct Investment
Horizontal: a business expands its domestic operations to a foreign country. In this case, the business conducts the same activities but in a foreign country. For example, McDonald's opening restaurants in Japan would be considered horizontal FDI.
What US companies are leading in FDI? ›
Amazon is the leading global investor
US-based logistics giant Amazon remained the leading parent company for FDI in 2021 for the second year running, according to the Global FDI Annual Report 2022.
Which state has highest FDI in India 2024? ›
"In India, Maharashtra is the leader for FDI.
