CURRENT AFFAIRS
CURRENT AFFAIRS
Description
According to the United Nations Conference on Trade and Development (UNCTAD), foreign direct investment (FDI) in India fell by 43% in 2023 compared to 2022, putting India to 15th place among global FDI recipients. This drop is consistent with a global trend in which overall FDI fell by 2%.
Global FDI Trends For 2023
UNCTAD's annual World Investment Report reveals a global reduction in FDI due to multinational firms' cautious stance. Uncertainty about global growth expectations, economic fracturing, trade and geopolitical conflicts, industrial regulations, and supply chain diversity are all contributing to the fall. International project funding, which is critical for infrastructure development, declined by 23%, while cross-border mergers and acquisitions plummeted by 46%.
FDI In Developing Regions
FDI to developing countries declined 7% to $867 billion, with developing Asia experiencing an 8% dip to $621 billion. Notably, FDI into China, India, West Asia, and Central Asia has fallen. India's FDI influx in 2023 was $28 billion, down from $49 billion in 2022, and its global FDI recipient ranking dropped from eighth to fifteenth.
India’s FDI Performance In 2023
Despite the fall, India remained a major player in attracting foreign direct investment for greenfield projects and international project finance transactions. It scored fourth in greenfield project FDI announcements and maintained second place in international project deals. However, India’s FDI outflows, which refer to investments by Indian companies abroad, saw an improvement, with the country ranking 20th, up from 23rd in 2022.
Top Ten FDI Recipient Countries In 2023
United States of America – $311 billion
China – $163 billion
Singapore – $160 billion
Hong Kong (China) – $113 billion
Brazil – $66 billion
Canada – $50 billion
France – $42 billion
Germany – $37 billion
Mexico – $36 billion
Spain – $36 billion
India – $28 billion
About UNCTAD
Established in 1964, the United Nations Conference on Trade and Development (UNCTAD) seeks to encourage trade, investment, and development in underdeveloped nations. UNCTAD, based in Geneva, Switzerland, publishes various significant reports, including the World Investment Report, Trade and Development Report, and Digital Economy Report.
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