The Development Push in India Should be Mirrored by Personal Growth

Foreign Direct Investment is an important source of debt free financial asset for the economic growth of our country. Statistics released by the India Brand Equity Foundation (IBEF) show that India received US $40 billion worth of foreign investments in the Financial Year 2015-2016. This indicates a positive result for the government’s efforts at job creation across the 25 economic sectors of the country. The policies directed towards this goal were launched in September 2014 under the “Make in India” initiative. After the “Make in India” policies went live, the country saw a rise of 40% in FDI inflow from October 2015 to June 2015, as compared to the same period in the previous year. Under this program, the government also allowed 49% FDI in the defense sector in 2014 as opposed to 47% in the preceding 3 years. Because of the success of the ongoing policies, India is expecting a 45% rise in FDI in 2016, despite the global slowdown.

“The concept of Make in India has really succeeded as it added more employment. With this, India has now become a vibrant market for manufacturers. For the products that are made out of the initiative, we have a strong domestic market with increasing demand. I believe that infrastructure sector is where foreign investments can come in a big way,” said Dipankar Dasgupta, former professor of Economics at the Indian Statistical Institute.

In the first half of 2015, India had a total foreign inflow of $31 billion leading to India overtaking China and the US to gain the top spot among countries attracting the largest FDI. India also moved 16 places up to the 55^th rank among the world's most competitive economies. According to statistics, Singapore (25%), Mauritius (20%) and the Netherlands (5%) are the major contributors to the FDI inflow in India.

Computer software and hardware is a key sector that is attracting FDI, closely followed by the automobile industry, trading, the services sector and telecommunication. Considering the potential of India’s markets and the growing size of the economy, China is also set to make huge investments across various sectors in India in 2016, says a report in The Economic Times.

Big Chinese business groups like Shanghai Automotive Company, Chint Group, Sopo Group, Dingshen, etc, are planning to explore the full potential of the Indian market in the coming years. According to news reports, Alibaba Group is also planning to raise its market share from 30% to 70% in 2016.

"We welcome Chinese investments and entrepreneurs to participate in 'Make in India' and other flagship initiatives of our Government. We will facilitate your efforts to make your investments in India profitable. We must take advantage of the opportunities that abound in the growth of both our economies,” said the President of India, Pranab Mukherjee.

With the advent of these policies and with statistics inclining towards steady growth in the economy, it is important to remain at par with it on a personal level and make the right investments. Choosing the right investment options, like a term insurance can go long way in personal growth and in building a secure future for yourself and your family, say experts at Life Insurance Company. Like the country is vested on the right investments and policies to make sure that all dependents have a bright and safe future, it is the duty of every individual to ensure that the future of their family is safe even in tougher times. Considering the tax benefits and affordable premium rates, a term plan sure seems like the perfect way to achieve your personal goals.