Mar. 24 – Australia and Japan are both stepping up their investments in India. Viewed as a nation that will weather the economic storm and continue to grow at an average 6.5 percent to emerge as the third largest economy by 2025, India has become an FDI magnet in the region.
FDI figures released by Japan Bank of International Cooperation (JBIC) has revealed that year on year Japanese investments in India have been rising. According to the JBIC, Japanese FDI into India tripled to US$5.4 billion in 2008 from US$1.78 billion in the previous year. Additionally Australian FDI to India stood at US$3 billion while FDI from India to Australia was US$700 million.
Both nations are expected to invest in India’s infrastructure, healthcare, information and communication technology, automotive, education and training, retail, consumer goods and franchising, food and beverages, and arts, film and entertainment sectors.