According to a survey by Confederation of Indian Industries (CII), India will be one of the top three overseas investment destinations for the next two-three years. It measured the country’s competitiveness on selected parameters. As per the survey, for over two-thirds of multinational companies, India is the number one choice for future investments. Over 71% of the non-India headquartered respondents and 80% of all respondents are looking to invest globally over the next two-three years. Apart from this, 30% companies were planning to invest more than $500 million each globally.
According to Chandrajit Banerjee, director general of CII, the CII-EY survey results point strongly to the fact that India is going to be the next worldwide investment hotspot with a high proportion of MNCs (multi-national corporations). They put it at the top of their investment agenda. After the recent unlock measures, the latest major structural reforms, proactive government processes and the quick pickup in economic activity are contributing to international investor interest.
Political stability and skilled workforce among top reasons
According to the survey, new investments will be motivated by digital transformation, capacity expansion, research and development, and greenfield investments. According to some sources, a skilled workforce, market potential, and political stability are the top reasons to make India their preferred destination. This is really a good sign of the revival of the market. The last six months have really been critical which will have its long-term effect years ahead. In such circumstances, the survey offers a sigh of relief. Taking into consideration some of the major economies, India is still in better condition.