FDI Has Jumped to $61,724 Billion From $34,487 Billion: PM Modi

The Foreign Direct Investment (FDI) has seen a huge jump from $34,487 billion to $61,724 billion since 2013, Prime Minister Narendra Modi said on Wednesday.

Giving an overview of his three-year-old government, he said India is today seen as a bright spot in the global economy, doing business here has been made easier and the tax regime is more predictable and stable.

The GST is also going to have long standing benefits for the nation, he said in a write-up on LinkedIn.

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"When we assumed office in May 2014, the country was going through a challenging phase. To begin with, the element of trust in government, in institutions- had disappeared. There was little potential and no incentive to invest in India. Corruption, nepotism and high handedness of authorities had demoralized industry," Modi said.

"One of our immediate priorities was to change this atmosphere, which we have done over the last three years," he added.