The ambitious target compares with an annual average of more than $70 billion in FDI in the five years through March 2023 and would be a reversal in trend after last year's decline. Singh said the figure for the current fiscal year will be'closer to' the $100-billion target.
The world's fastest-growing major economy is appealing to businesses that want to hedge against geopolitical tensions by spreading their operations broadly-sometimes more called a 'China plus-one' strategy. Companies like Apple and Samsung have boosted manufacturing in India, taking advantage of incentives offered by the Narendra Modi government.
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