India is expected to draw USD 100 billion in foreign direct investment (FDI) in the year 2022-23 based on economic reforms and the easy process of doing business in recent years, said the industry chamber PHDCCI.
It also expects more than 8% GDP growth in the current financial year. Yet, rising international commodity costs, notably crude oil, have fueled the inflation scenario, he added.
He recommended 10 prolonged strategies to strengthen the economic growth and achieve the goals of becoming a USD 5 trillion economy in the next 5 years. The strategies include speedy infrastructure investments, the inclusion of more sectors under the PLI scheme, an increase in public investment in the agriculture sector, addressing high commodity prices and shortage of raw materials etc.