Thu Dec 12 13:47:45 UTC 2024: ## India Hits $1 Trillion FDI Milestone, Fueled by Strong First-Half Growth
**New Delhi, India** – India has reached a significant economic milestone, surpassing $1 trillion in gross foreign direct investment (FDI) inflows since April 2000. This achievement, announced by the Ministry of Commerce and Industry, is driven by a robust 26% surge in FDI during the first half of the current fiscal year (2024-25), reaching $42.1 billion.
The ministry attributed this success to India’s increasing attractiveness as a global investment hub. Initiatives like “Make in India,” relaxed sectoral policies, and the implementation of the Goods and Services Tax (GST) have boosted investor confidence. Competitive labor costs and strategic incentives continue to lure multinational corporations.
Over the past decade alone (April 2014 to September 2024), India attracted $709.84 billion in FDI, representing a significant 68.69% of the total FDI inflow over the past 24 years. The government’s commitment to an investor-friendly environment, with most sectors open to 100% FDI under the automatic route (excluding strategically important sectors), has played a crucial role.
Further bolstering investor confidence, recent amendments to the Income Tax Act, 1961, abolished angel tax and reduced the income tax rate for foreign companies. The government remains optimistic about future growth, believing its policies are well-positioned to solidify India’s global economic standing and promote sustainable development.
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