India may attract $475 bn in FDI over next five years: CII-EY survey

The study says 71% of MNCs see the country as a key destination for their global expansion

An overwhelming majority of multinational companies (MNCs) operating in India feel that the country’s economy will perform well over the next 3-5 years, backed by the strong momentum in domestic consumption, services, digital economy and infrastructure, according to a survey.

The study, conducted by industry body Confederation of Indian Industries and consultancy firm EY, said that 71 per cent of MNCs see the country as an important destination for their global expansion.

“The report underscores that India has optimistic growth prospects for foreign investments, with a potential to attract FDI flows of $475 billion in just the next