Amid global economic crisies due to Covid-19, a report published by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) has stated that the Indian economy could prove to be the “most resilient” in the subregion of South and South-West Asia over the long term, reports Economic Times.
“India’s economy could prove the most resilient in the subregion over the long term. FDI inflows have been steadily increasing and positive, albeit lower, economic growth after the pandemic and India’s large market will continue to attract market-seeking investment,” the report said.
Titled “Foreign Direct Investment Trends And Outlook In Asia And The Pacific 2020/2021”, the report states that in the first three quarters of 2020, greenfield FDI inflows declined in South and South-West Asia by 43 per cent, however, India alone accounted for 77 per cent ($51 billion) of the total inflows (66 billion), up 20 per cent from the previous year.
The report also noted that the outward FDI flow from the sub-region saw a modest increase in 2019, rising from $14.8 billion in the previous year to $15.1 billion which means a 10 per cent increase in outward FDI flow from India over 2018.