: India emerged investment destination of choice: Commerce Minister #FinanceIndia #StockMarketNEWS India emerged investment destination of choice: Commerce Minister New Delhi, 15 Nov (KNN) The Union

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India emerged investment destination of choice: Commerce Minister #FinanceIndia #StockMarketNEWS
India emerged investment destination of choice: Commerce Minister New Delhi, 15 Nov (KNN) The Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal said that the exports of goods and services are at historical high.

He said this while inaugurating the 40th the India International Trade Fair (IITF) in New Delhi on Sunday, communicating that the India is a trusted global partner in maintaining global supply chains.

“Despite the lockdown, India did not default on any service support to the global community. It has been witnessing historic high of FDIs. Highest ever FDI in first 4 months. Its 62 % higher than same period last year. IITF will show India is back in business,” he added.

He listed five major Sutras of Bharat i.e. Economy, Exports, Infrastructure, Demand & Diversity and said that IITF will push the mission of Aatma Nirbhar Bharat and shall encourage the idea of Vocal for Global.

Commerce Minister Goyal said there was highest ever FDI inflow USD 27 bn during first 4 months of FY 21-22, over 62% over same period in FY 20-21, highest ever exports: Merchandise exports in Apr-Oct 2021 was USD 232 bn (+54% over Apr-Oct 20 & +25% over Apr-Oct 19).

He mentioned that the international rating agency Moody’s upgraded India’s sovereign rating outlook to ‘Stable’ from ‘Negative’.

Moreover, GST collections surged to INR 1.3 lakh crore in October, INR 1.25L crore retail sales during Diwali, Manufacturing PMI rose to 55.9 in October, Service PMI reached a decade high of 58.4 last month. India has now become “The destination” for investments, with its investor friendly, he said.

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