Pandemic fails to dent investor confidence

New Delhi: India remains an attractive destination for foreign direct investments (FDI) on account of healthy prospects of economic growth and its skilled workforce, according to a survey by Deloitte.

A large proportion of international business leaders remain confident in India's short and long-term prospects and are readying plans to make additional and first-time investments in the country, it said on Tuesday.

The survey, which questioned 1,200 business leaders of multinational corporations in the US, UK, Japan and Singapore, found that India remains an attractive destination for investments, scoring highly for its skilled workforce and prospects for economic growth. "India can target attracting greater FDI into seven capital-intensive sectors which are textile and apparel, food processing, electronics, pharmaceuticals, vehicles and parts, chemicals and capital goodsthat have contributed $181 billion of merchandise exports in 2020-21," the survey said.

These seven sectors have the necessary potential, opportunity, and capability to show quick results and set a global precedent, the report noted.

It also said that more business leaders, especially in Japan, are making investments in India for access to the domestic market rather than using India as a springboard for exports."India has the strongest positive perception in the US when compared to markets such as China, Brazil, Mexico, and Vietnam.The US and UK business leaders expressed greater confidence in India's stability," it said.