$55 Billion received as FDI, says Foreign Minister SushmaSwaraj


New Delhi, June 24, 2016: Foreign Minister SushmaSwaraj affirmed that India received around $55 billion Foreign Direct Investment over the past two years. Improving economic engagement with various countries has been the prime concern of India’s foreign policy.

The external affairs minister presided an hour-long yearly press conference in which she talked about the accomplishments of the NDA government in the strategic domain of the past year, stressing at length on the actions to broaden India’s global tie-ups.

Ms.Swaraj said the government had renewed communications with 140 countries in the last year and stated that India’s increasing ties with diverse nations in the African continent, countries of the Gulf region and Pacific islands is a great accomplishment.

India will send its ministers to 65 nations to connect. So far, there hasn’t been any ministerial visits to these countries, Swaraj said.

She also said that the Prime Minister NarendraModi along with her visited six SAARC nations, strongly following its “neighbourhood first” policy.

She opined that the sustained efforts have brought about this 55$ billion (Rs 3.69 lakh crore) in foreign direct investment in the past two years.

The FDI in different sectors also includes real estate sector in which various investors are backing Indian real estate giants. Among the two massive private equity investments this year, a $1 Billion investment is being made by Brookfield Asset Management Inc. to purchase the office and reality assets of Hiranandani Developers in suburban Mumbai. The Hiranandani group is founded by SurendraHiranandani and his daughter NehaHiranandani.

“It is an increase of 43 per cent compared to the time when UPA was in power. You have to make effort to get FDI. Because of our effort, FDI has gone up,” Swaraj added that so many other foreign governments are taking part in India’s flagship schemes like the revival of Ganga and smart cities projects due to MEA’s unceasing efforts.

The foreign minister said India’s link with the US have improved considerably, adding that the government will not weaken national interest while having good relations with that country.

Swaraj spoke on a number of other issues entailing government’s engagement with the diaspora, India’s views on South China Sea conflict and targeted murders by suspected Islamists in bordering Bangladesh.

Swaraj opined that India seeks harmonious settlement of the conflict with issues of South China Sea. She said India will try to bring unanimity in the Teesta water agreement with Bangladesh for which West Bengal’s Chief Minister Mamata Banerjee’s cooperation will also be required.

Speaking about collaboration with Japan on Malabar exercise front, Swaraj said that the country will be a permanent member in the Malabar exercise.

Malabar exercise is a trilateral exercise involving India, US, and Japan. Earlier it used to be a bilateral exercise between India and US. In the year 2015, Japan too became a member. The yearly Malabar series began in the year 1992.

Corporate Comm India (CCI Newswire)