India top investment destination this year: EY survey

NEW DELHI: In big endorsement of India’s fundamentals and attractiveness, 32% respondents in EY’s annual ‘Attractiveness Survey – India 2015’ have ranked the country as the most attractive market this year.

A majority 60% have place the country among top three attractive destinations.

The survey is based on response of 505 global CEOs.

“Business leaders find India’s macroeconomic and political stability, FDI policy and ease of doing business more attractive in 2015, compared with EY’s 2014 India attractiveness survey,” the Survey said, indicating that the government’s drive to improve business was yielding results.

India is already the number one FDI destination in the world during the first half of 2015 for green-field investment.

“Manufacturing has regained its share in FDI capital flows in 2014, amounting to approximately 46%,” the survey said, suggesting that the high pitch ‘Make in India’ seemed to have had some impact. “Investors are most optimistic about the sector, with 62% of those interested to expand or enter India over the next year, saying that they plan manufacturing activities.”

55% of our survey’s respondents were aware of the Make in India program and 69% of those who are aware of the initiative are likely to invest in manufacturing in the next five years.