What Budget 2024 can do to get foreign investors to bet on India
Union Budget for 2024-25, expectations are high for measures that will stimulate economic growth and attract foreign investment. Businesses are waiting with bated breath to see what reforms and reliefs are introduced for the financial year ahead. It is expected that Union Budget would be an agent of change in ushering India towards the long-enumerated feat of realizing $5 trillion economy by the government.
This budget is poised to be a crucial step in India's journey towards becoming a major global economic player, with several key areas in focus specifically Foreign Direct Investment (FDI) being at the forefront for budgetary considerations. Recent years have seen the once-roaring river of Foreign Direct Investment (FDI) slow to a trickle, a trend that has set alarm bells ringing in the corridors of power. It is expected that upcoming budget may relax regulations for critical sectors such as defense, insurance, and plantations thereby attracting more investments.
These changes would streamline processes and make India a more attractive destination for foreign capital, aligning with the country's goals of "Atmanirbhar Bharat" and "Viksit Bharat” by 2047.
As the budget approaches, there are expectations for meaningful policy changes to address these issues. Stakeholders anticipate reforms that will not only halt the decline but also enhance India's appeal as a global investment destination. The 2024 Budget presents an opportunity to refine India's FDI strategy, streamline regulations, and create a more inviting environment for foreign investors.
