Question
According to the World Investment Report released by
United Nations Conference on Trade and Development (UNCTAD), India is _______ among the top recipients of foreign direct investment (FDI) in the last calendar year (2021).Solution
According to the World Investment Report released by United Nations Conference on Trade and Development (UNCTAD), India jumped one position to 7th among the top recipients of foreign direct investment (FDI) in the last calendar year (2021). UNCTAD said FDI inflows into India declined to $45 billion in 2021 from $64 billion in the preceding year. The largest number of projects (23) was in renewables. Large projects include the construction in India of a steel and cement plant for $13.5 billion by ArcelorMittal--Nippon Steel (Japan) and the construction of a new car manufacturing facility by Suzuki Motor (Japan) for $2.4 billion. While the United States ($367 billion) remained the top recipient of FDI, China ($181 billion) and Hong Kong ($141 billion) also retained second and third position respectively.
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