US topples India as top greenfield FDI investment destination: Report
FDI
India was replaced by the US as the highest ranked country for FDI by capital investment with USD 87.4 billion recorded
According to reports, the United States became the top destination for greenfield FDI investment in 2017. Previously, the top spot was retained by India in 2015/2016.
As per the 2018 report compiled by FDI Intelligence, the number of greenfield FDI projects in India during 2017 fell sharply by 21 per cent to 637.
The United States, in 2017, claimed the spot from India, recording USD 87.4 billion of announced Foreign Direct Investment (FDI).
China tops the list in the Asia-Pacific region in terms of FDI in the total number of new projects and capital investment, followed by India. China received a foreign capital investment of USD 50.8 billion in 2017 in greenfield projects, compared to India's USD 25.1 billion. As per the report, China received investments in 681 projects as against 637 in case of India.
"India was replaced by the US as the highest ranked country for FDI by capital investment, with USD 87.4 billion recorded, boosted by major announcements from Foxconn and Saudi Basic Industries to invest billions in single plants. The US was also the highest ranked country for FDI by a number of projects, recording 1,627 announcements," the FDI report noted.
(With inputs from PTI)
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