Impact of Foreign Direct Investment on Industrial Growth of India
Muthusamy1, S. Sundararajan2
1Dr. A. Muthusamy, Professor, Department of International Business, Alagappa University, Karaikudi (Tamil Nadu), India.
2Mr. S. Sundararajan, Ph.D Research Scholar, Department of International Business, Alagappa University, Karaikudi (Tamil Nadu), India.
Manuscript received on 17 September 2019 | Revised Manuscript received on 04 October 2019 | Manuscript Published on 11 October 2019 | PP: 165-169 | Volume-8 Issue-2S10 September 2019 | Retrieval Number: B10270982S1019/2019©BEIESP | DOI: 10.35940/ijrte.B1027.0982S1019
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: In India the Foreign direct investment (FDI) has received a staged improvement from instigate of the Make in India scheme, according to recent survey. There was a incredible increase in FDI inflows (40%) particularly in manufacturing sector from October, 2014 to June, 2019 . The industrial sector is considered to be the one of the dominant sectors that contribute the major Indian GDP. India has been ranked fourteenth in the factory output in the world. This was because of the launch of initiative, which sought for promoting manufacturing segments and be a magnet for foreign investments. More than 56 manufacturing units are benefitted in the entire globe. In the recent times during the year 2014 to 2019 the Industrial production inclined to 3.1 per cent, mainly on account of improvement and to encourage talent augmentation towards the various sectors of the economy. This article brings out the recent efforts taken by the government for encouraging the FDI into various sectors and how it has made a pathway. In the last ten years India has shown a tremendous increase in Foreign Direct Investment into the various sectors in economy. Even though Government of India has make a pathway for attracting FDI on various sectors, this papers focuses on explaining the impact of make in India scheme on FDI. In this paper period of five years has been considered for the analysis. The Statistical Tools like Karl Pearson’s Coefficient Correlation and One – Way ANOVA has been used for the analysis of data. To study the relationship between the FDI and IIP correlation is used for the analysis of data.
Keywords: GDP, FDI, Make in India Scheme, Industrial Growth, Manufacturing Units.
Scope of the Article: Industrial Engineering