Finance Minister Arun Jaitley has said that the government efforts are paying off as India has become the highest FDI destination for greenfield projects after the report published in Financial Times, London, titled 'India grabs investment league pole position'. The report stated that the India with $31 billion of foreign capital inflows, has surpassed China having $28 billion and the US $27 billion to take the pole position in attracting largest FDI in the first half of 2015.
India ranked fifth last fiscal in terms of capital investment after China, the US, the UK and Mexico. India is tracking well ahead of where it was at this time last fiscal: it has more than doubled its midyear investment levels, attracting $30 billion in the first half of 2015 compared with $12 billion same period last fiscal. In a year when many major FDI destinations posted declines, India experienced one of 2014's best FDI growth rates, increasing its number of projects by 47 per cent.
The government has relaxed FDI norms in many sectors, including multi-brand retail, telecom and defence. Besides, speedy approvals for businesses have been put in place.