Even as most countries attracted less Foreign Direct Investment (FDI) last year, investment in India surged on hope its economy is set for take off.
Asia’s third-largest economy received $34 billion as FDI in 2014, according to report released Wednesday by the United Nations Conference on Trade and Development. That’s a 22% jump from the previous year, meaning India was the country that attracted the ninth largest amount of international investment last year. The year before the South Asian nation’s ranking was 15th.
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