Asian countries are among the biggest investors in India as the region increasingly backs its own rapid growth amid a fall-off in longer-term capital from the west.
India, the world’s fastest-growing large economy after China, has witnessed a surge in foreign direct investment from countries such as China, Japan and Malaysia. Investments from the US, France and the UK have declined over the past year.
Higher levels of FDI are crucial for India to achieve its ambition of double-digit growth. Duvvuri Subbarao, India’s central bank governor, has warned that India needs a “quantum step” in investment if it is to propel its growth rate higher than the current 8.5 per cent.
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