Every time Prime Minister Narendra Modi went to any of his trips abroad, the Opposition cried foul and his critics found a way to target the PM. Nevertheless, there was no stopping to the PM’s foreign trips.
In 2016 alone, Modi visited 18 countries, including two trips to the US. In 2015 he made 21 State Visits to as many countries besides attending various important conferences ranging from BRICS in Russia to the climate change in France.
Now only those who think that the clandestine vacations of a certain party’s vice president are for the benefit of the country would be dolt enough to say that the PM’s visit bore no fruit.
A State Visit by the Head of the Government actually helps attract FDI in a far more robust way than any other diplomatic manoeuvre. (And it is just one of the many significant things a foreign trip by the Head of the Government is able to achieve.)
Speaking at the Vibrant Gujarat summit – a perfect platform to talk business from – the Prime Minister said that India has received around USD 130 billion in FDI in two-and-half years of his governance.
He is right because the breakdown proves so. The figures are from the Department of Industrial Policy and Promotion (DIPP) of the Ministry of Commerce and Industry.
From April 2014 to March 2015, India had attracted approximately USD 44.8 billion.
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From April 2015 to June 2015, the inflow was of USD 12.4 billion approximately.
From July to September 2015, it was USD 10.1 approximately.
From October to December 2015, the FI inflow was approximately USD 16.2.
The total FDI inflow from January to September 2016 has been USD 44.5 billion approximately.
The total of that FDI inflow from April 2014 to September 2016 comes to approximately USD 130 billion – the figure the PM announced at the summit.
Now note that the FDI earned from January to September 2016 is almost equal to the FDI earned from April 2014 to March 2015. In just nine months, India attracted as much FDI as it did in 12 months of the first year of Modi’s rule.
And it is also important to note that between 2004 and 2016, the only time the FDI went into negative was in February 2014 when the figure touched USD -60 billion.
Given that India’s FDI accelerated back into top gear is proof of the hard work put in by the PM and his ministers. Those who criticise him for his foreign tours should now focus on something better.