India has the potential to attract $160 billion annually in FDI by 2025 given the record FDI that flowed into the country in the last seven years, Commerce & Industry Minister Piyush Goyal has said.

“We have the potential to attract an annual FDI in the range of $120-$160 billion by 2025. Last seven years we’ve seen a record FDI, each year breaking the previous record... And I do hope to see that continue looking at the major structural reforms....” Goyal said, addressing the CII National Conference on MNCs, 2021, through video conference on Tuesday.

India attracted highest ever total FDI inflow of $81.72 billion in 2020-21, per government figures.

FDI inflows rose 62 per cent to $ 27 billion during April-July period of the current fiscal.

Single Window

The National Single Window System (NSWS) launched to serve as a one-stop-shop for approvals and clearance needed by investors will host five more States and 14 more Central Departments on the portal in December in addition to the nine States and 18 Central Departments already on it, Goyal said.

The Minister expressed hope that MNCs would grow, acquire new businesses, recruit in India and bring international talent to the country.

Free Trade Agreements being worked out by India will increase opportunities for businesses, including MNCs, who could use India as a base to supply to the world, he said.

“We will have an FTA with UAE in the next 60-100 days, an interim agreement with Australia probably around the same time. With the EU, work should start soon (as) they have recently appointed a lead negotiator and we are working to start with Canada,” he said.

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