In 2018-19, India attracted FDI inflows of 73 billion dollars, up 18 % from previous year.
While addressing the Inaugural Session of “CII Life Science Conclave 2020” on 30th September, the India’s Union Minister For Chemicals and Fertilizers DV Sadananda Gowda said, business friendly reforms carried out by Government have helped India to emerge as one of the best investment destinations among emerging economies.
Implementation of policies to promote financial inclusion and to check Corruption and easing of compliance of labour laws & regulations has made India the best destination for investment, the minister said.
In 2018-19, India attracted FDI inflows of 73 billion dollars, up 18 % from previous year, according to Chemicals and Fertilizers Ministry’s statement released on 1st of October
Especially mentioning the pharma and medical device sector, the minister said this is the most opportune time to invest in this sector in India as the sector is likely to grow in to 65-billion-dollar industry by 2024 to 120 billion dollars by 2030.
He further said that the medical device sector has the potential to grow at 28% per annum to reach US $ 50 Billion by 2025.