During the Corona period, there has been a decline in economic activity globally and there is an eclipse of the recession on the economies. India is also not untouched by negative effects, but foreign investment is growing at a satisfactory pace due to the efforts of the government. Prime Minister Narendra Modi in an address has given encouraging information that in the period of lockdown imposed to prevent the spread of infection, there have been twenty billion dollars of foreign direct investment in the country.
This indicates that despite the decrease in growth rate, the confidence of investors on the good future of our economy is restored. This investment is also important because many types of apprehensions were arising due to the massive fall of investment in April. The comprehensive relief package issued by the central government and efforts to prevent infection has also boosted the confidence of investors. As Prime Minister Modi has underlined, the amount of foreign investment is increasing significantly year after year. An investment of $ 74 billion was received in the financial year 2019-20, which was 20 percent more than in 2018-19.
According to the report released last month by the United Nations Committee on Trade and Development, India was ranked ninth in the list of countries receiving the most FDI in 2019. India was ranked 12th in the year 2018. This report also states that India is attracting investment even during the Corona epidemic and is in the strongest position among the South Asian economies. In order to overcome the Corona crisis and make India prosperous, Prime Minister Modi has given a mantra of self-reliance and called for increasing production and consumption at the local level.
In his recent address, he has also emphasized that it is necessary to increase the domestic capacity of production, restore the health of the financial system and diversify its international trade to withstand external shocks such as disasters. Due to economic reforms, changes in regulation and important legal initiatives, India's performance in terms of trade facilitation is continuously improving.
Taking advantage of the current crisis experiences and changes in the structure of global commerce and trade, India has the potential to become a major economic presence. The size of the Indian market is also huge with the availability of resources and labor. If the flow of appropriate
