India's FDI rank rises to 7th position : UNCTAD

Tags: National News

According to the United Nations Conference on Trade and Development (UNCTAD), India jumped one place to the 7th position among the top recipients of foreign direct investment (FDI) in the last calendar year (2021) despite a fall in FDI inflows into the country.

• Key points of the report

• Despite a 30% decline in 'foreign direct investment' (FDI) in the country, India is at the seventh position.

• The United States ($367 billion) became the top recipient of FDI.

• China ($181 billion) and Hong Kong ($141 billion) also retained the second and third positions respectively in the list of FDI recipients.

• Among the top 10 FDI recipient economies, only India has seen a decline in inflows.

• However, outward FDI from India has increased by 43 percent to $15.5 billion in 2021.

• What is FDI?

• Foreign direct investment or FDI is an investment made by a party of one country in a business or corporation operating in another country with the intention of earning long-term profits. Through FDI, foreign companies are directly involved in the day-to-day operations of another country.

• About United Nations Convention on Trade and Development (UNCTAD)

• UNCTAD is a permanent intergovernmental body established by the United Nations General Assembly in 1964.

• It is a part of the United Nations Secretariat.

• UNCTAD reports to the United Nations General Assembly and the Economic and Social Council, but has its own budget, members and leadership.

• It is also a part of the 'United Nations Development Group'.