DPIIT Secretary: India may further ease FDI norms once the new govt takes charge

India may further liberalise foreign direct investment (FDI) norms in areas where easing is possible once the new government takes charge, the Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Rajesh Kumar Singh said on May 18.

The next government is expected to take charge next month after the results of the ongoing Lok Sabha polls are announced on June 4.

India recently liberalised FDI norms in the space sector to attract offshore investors in the satellite manufacturing and satellite launch vehicle segments.

Last month, Singh told Moneycontrol in an interview that India's FDI inflows, which were around $30-35 billion on average in 2013-14, registered a high of $85 billion in 2021-22. And that the government is targeting close to $100 billion in inflows over the next five years.

The survey aims to assess the business and investment climate in up to 180 economies.

The first report is expected to be launched on September 25, 2024.