FDI to help India become $5 trillion economy: Deloitte CEO
ECONOMY & POLICY

FDI to help India become $5 trillion economy: Deloitte CEO

According to the CEO of Deloitte, Punit Renjen, Foreign Direct Investment (FDI) is important for India to become a $5 trillion economy.

More than two-fifths of the 1,200 businesses, countries like the US, UK, Singapore and Japan are planning for first-time investments in India.

According to a survey, India remains one of the most attractive FDI destinations.

Renjen told the media that despite the covid-19 pandemic last year, business leaders are preparing for first-time investments in India.

He further said that as per the survey, a valuable skilled workforce and prospects for economic growth are some important attractors for FDI.

He noted that though there is a significant crossover, access through the domestic market of India is crucial in addition to India's export hub.

He said that attractions from the domestic market are crucial for FDI. Many business leaders rated India higher based on economic growth and skilled workforce, which attracts investors.

The government policies are helping FDI in India, with a positive investment in infrastructure, Renjen said.

Around 16% of the business leaders in Japan, 9% in Singapore were not fully aware of the customer digitization, clearance and production, he said.

Under his leadership, this month Deloitte became the first professional services company and crossed 50 million. Despite the pandemic, the company's growth was 5.5%.

The company had informed PM Narendra Modi that it would hire 75,000 more people from India in three years. Currently, the workforce of the company is 3,45,000, out of which 65,000 are Indians.

Around 15% of the company's employees live and work in India, which will increase to 25% in three years, widening its reach to tier-two and tier-three cities, he said.

Image Source


Also read: India received $64 billion in Foreign Direct Investment in 2020: UN

According to the CEO of Deloitte, Punit Renjen, Foreign Direct Investment (FDI) is important for India to become a $5 trillion economy. More than two-fifths of the 1,200 businesses, countries like the US, UK, Singapore and Japan are planning for first-time investments in India. According to a survey, India remains one of the most attractive FDI destinations. Renjen told the media that despite the covid-19 pandemic last year, business leaders are preparing for first-time investments in India. He further said that as per the survey, a valuable skilled workforce and prospects for economic growth are some important attractors for FDI. He noted that though there is a significant crossover, access through the domestic market of India is crucial in addition to India's export hub. He said that attractions from the domestic market are crucial for FDI. Many business leaders rated India higher based on economic growth and skilled workforce, which attracts investors. The government policies are helping FDI in India, with a positive investment in infrastructure, Renjen said. Around 16% of the business leaders in Japan, 9% in Singapore were not fully aware of the customer digitization, clearance and production, he said. Under his leadership, this month Deloitte became the first professional services company and crossed 50 million. Despite the pandemic, the company's growth was 5.5%. The company had informed PM Narendra Modi that it would hire 75,000 more people from India in three years. Currently, the workforce of the company is 3,45,000, out of which 65,000 are Indians. Around 15% of the company's employees live and work in India, which will increase to 25% in three years, widening its reach to tier-two and tier-three cities, he said. Image Source Also read: India received $64 billion in Foreign Direct Investment in 2020: UN

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000