NEW DELHI: India has emerged as one of the top three choices for overseas investments in the next two-three years, according to a survey conducted by Confederation of Indian Industries (CII) and EY. About 30 per cent of the firms may invest over USD 500 million in the country, the survey pointed out.
The report notes that more than two-thirds of the multinational company (MNC) respondents and 25 per cent of non-India headquartered MNCs consider India as the first choice for investment. The respondents have pinned down market potential, skilled workforce, and political stability as the top three reasons to make India their favored destination.
The survey showed that respondents want the government to focus on infrastructure development, faster clearances and proper implementation of the improved labour laws and labour availability. In terms of Trade Policy reforms, investors have sought a faster turnaround time for value added, improved cargo handling and trade facilitation measures.
"Non-Indian HQ MNCs have also opined that major investment in infrastructure and 100 smart cities as well as financial sector reforms will also help in establishing India as a favorable destination for FDI," the survey said.