FDI key to India’s aspiration to be a USD 5 trillion economy, says Deloitte CEO

Foreign Direct Investment (FDI) is critical for India to reach its goal of becoming a USD 5 trillion economy, according to Deloitte CEO Punit Renjen, who also noted that more than two-fifths of the 1,200 business leaders polled in the US, UK, Japan, and Singapore plan additional or first-time investments in India.

“Despite the collapse of COVID-19, inflows reached a new high last year. Business leaders polled by Deloitte are planning additional and first-time investments in India, “PTI quoted Renjen as saying.

During the COVID-19 crisis in India, Deloitte gave significant financial and medical equipment support and the Sanjeevani Pariyojana, a supervised, virtual home-care program to allow individuals swiftly access healthcare for mild to moderate Covid symptoms.

He claimed that 15% of Deloitte’s 3,45,000 employees live and work in India and that this will increase to roughly 25% in the next three years to reach tier-two and tier-three cities.