India is witnessing high foreign remittances & FDI inflow: Goyal
investment destination is doing extremely well with the country witnessing high foreign remittances, foreign direct investment (FDI) and foreign institutional investment (FII) inflows, commerce and industry minister Piyush Goyal said.
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In an interview with ET, he said the government keeps monitoring the expectations of the market and what investors want.
«We have one of the highest amount of foreign remittance and FDI coming into the country and FII investment is also beating all records. So India as an investment destination is doing extremely well,» Goyal said on being asked if countries like Vietnam have attracted foreign capital because of easier compliances, something that India is still doing.
«SEBI has liberalised a number of regulations… It is a continuous process. We keep monitoring what are the expectations of the market and what investors-both domestic and international-want,» he said, adding that policies which suit India's interest are continuously being taken up.
While the government has eliminated or simplified more than 40,000 compliances last year under the Jan Vishwas (Amendment of Provisions) Act, the minister said that there is a «huge effort on decriminalisation of laws so that there is less pressure on traders».
«It is a continuous process (to lower the compliance burden)...We have made strong efforts to make processes online. We want more
