April 22, 2016 7:13 AM

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India replaces China as top FDI destination

India has replaced China as the top Foreign Direct Investment (FDI) destination. According to 'The Financial Times', India was the highest ranked country by capital investment in 2015, with 63 billion dollars-worth of FDI projects announced. The report placed US at second spot with 59.6 billion dollars of FDI and China is at third place with 56.6 billion dollars of FDI coming in.Union Minister of State for Finance Jayant Sinha tweeted about the country's achievement attributing it to the transparent policies and proactive reform measures taken by Narendra Modi government. India also claims five places of the top 10 destination states for FDI in 2015. The top place went to Gujarat, which attracted 12.4 billion dollars.

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