HARNESSING FDI FOR ECONOMIC GROWTH: STRATEGIES FOR ACHIEVING VIKSIT BHARAT

Abstract

Foreign Direct Investment (FDI) has been pivotal in India's economic development, offering capital addition, technology transfer, and employment generation. The present study examines FDI's impact on India's economic growth across various sectors and evaluates policy measures to enhance FDI inflows in alignment with the 'Viksit Bharat' (Developed India) vision. The analysis reveals that sectors such as manufacturing, services, and technology have experienced significant FDI inflows, leading to increased productivity and integration into global value chains. The manufacturing sector has benefited from initiatives like 'Make in India,' which have attracted substantial foreign investments, thereby transforming the manufacturing landscape. The services sector, including computer software and hardware, has also attracted considerable FDI, contributing to economic growth.