The efforts by successive governments to attract foreign investors notwithstanding, the ratio of foreign direct investment (FDI) to the gross domestic product (GDP) has remained dismal when compared with countries like China, Brazil, Thailand and Hong Kong, according to a study conducted by Assocham."The FDI-GDP ratio in India is just 0.8% as against 16.8% in Hong Kong, 12.2% in Singapore, 4.3% in China, and 3.7% in Thailand," the chamber said in a release today.The comparative figures for UK is 4.7%, 4% in Brazil, 3% in Mexico and 1.8% in the US."This also builds a strong case for reviewing the FDI caps in sectors like telecom, aviation and insurance," Assocham said.
