Understanding India's FDI flows

The government has announced that it would review its FDI policy in a comprehensive manner

For three consecutive years — from 2016-17 to 2018-19, foreign direct investment (FDI) flows into India had recorded single-digit growth. This was a surprise. In the early years of the Narendra Modi government’s first term, its ministers would tom-tom their achievement in securing a big jump in FDI flows into the country. Indeed, FDI inflows rose by 25 per cent to $45 billion in 2014-15 and jumped again by over 23 per cent to $56 billion in 2015-16. 

But after those two years, it seemed the Modi government was out of luck as far as FDI inflows were concerned. The growth