India favourably placed for foreign investments: DIPP secreatry

New Delhi: India holds the edge on parameters like availability of skilled manpower, attractive consumer market, stable and decisive political establishment to attract foreign investments, a top official said today.

According to Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek, an enabling regulatory framework is imperative to make that happen.

"Investment decisions are also to be seen in the larger context of performance of the host economy, availability of skilled manpower, attractive consumer market, and most importantly, stable and decisive political establishment. India is favourably placed on all these parameters and provides great place for foreign investment," said an official statement quoting Abhishek.

He was speaking at a workshop on Investment Policy and Investment Climate of India, jointly organised by DIPP and global think-tank Organisation for Economic Co-operation and Development (OECD) here today.

In the last three years, the government carried out FDI policy reforms, the result being India has been recording the highest-ever foreign direct investment in recent years. Irene Hors, Head of OECD Strategic Partnerships and New Initiatives, stated that the workshop was aimed at throwing light on how the FDI policy reforms can be evaluated as per the benchmarking of the OECD and discussing related areas that impact investment such as trade, competition and tax policies and corporate governance.

The session looked at how to encourage linkages between multinational enterprises and local firms within global value chains.

The workshop was attended by participants from various ministries and departments, including mining, textiles, labour and employment, economic affairs, and commerce. Regulatory bodies such as the RBI, Sebi, the Competition Commission of India and Irdai were also represented in the workshop, besides industry bodies such as FICCI and law firms.