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FDI in India grew by 6% to $42bn in 2019: UNCTAD
FDI in India grew by 6% to $42bn in 2019: UNCTAD

United Nations, June 13 (TIWN) Foreign Direct Investment (FDI) in India grew by 6 per cent to $42 billion last year, according to the UN Conference on Trade and Development (UNCTAD).

"Investment was strong in manufacturing, communication and financial services -- the top three industry recipients," said the UNCTAD World Investment Report 2019 released on Wednesday.   UNCTAD's Director of Investment and Enterprise James Zhan said the growth was because Prime Minister Narendra Modi's office and agency for it are "very dynamic in promoting investment".  Speaking to reporters by video conference from Geneva, Zhan said that the offices were making efforts to attract a wide range of investment and "have been very effective; investment in India has been at a very high level, over $40 billion annually".  They have reached beyond the traditional multi-national companies and are "targeting some wealth funds and pension funds for investing in the infrastructure in India", he explained.

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