India is on track to attract $100 bn FDI this fiscal on back of reforms

India is on track to attract USD 100 billion foreign direct investment (FDI) in the current fiscal on account of economic reforms and ease of doing business, the government said on Saturday.

In 2021-22, the country received the "highest ever" foreign inflows of USD 83.6 billion.

"This FDI has come from 101 countries, and invested across 31 union territories and states and 57 sectors in the country. On the back of economic reforms and Ease of Doing Business in recent years, India is on track to attract USD 100 billion FDI in the current FY (financial year," the commerce and industry ministry said in a statement.

It said that to attract foreign investments, the government has put in place a liberal and transparent policy wherein most sectors are open to FDI under the automatic route.

The reform measures include liberalization of guidelines and regulations, in order to reduce unnecessary compliance burden, bring down cost and enhance the ease of doing business in India, it added.

FDI