FDI to help India become $5 trillion economy: Deloitte CEO

21 Sep 2021 CW Team

According to the CEO of Deloitte, Punit Renjen, Foreign Direct Investment (FDI) is important for India to become a $5 trillion economy.

More than two-fifths of the 1,200 businesses, countries like the US, UK, Singapore and Japan are planning for first-time investments in India.

According to a survey, India remains one of the most attractive FDI destinations.

Renjen told the media that despite the covid-19 pandemic last year, business leaders are preparing for first-time investments in India.

He further said that as per the survey, a valuable skilled workforce and prospects for economic growth are some important attractors for FDI.

He noted that though there is a significant crossover, access through the domestic market of India is crucial in addition to India's export hub.

He said that attractions from the domestic market are crucial for FDI. Many business leaders rated India higher based on economic growth and skilled workforce, which attracts investors.

The government policies are helping FDI in India, with a positive investment in infrastructure, Renjen said.

Around 16% of the business leaders in Japan, 9% in Singapore were not fully aware of the customer digitization, clearance and production, he said.

Under his leadership, this month Deloitte became the first professional services company and crossed 50 million. Despite the pandemic, the company's growth was 5.5%.

The company had informed PM Narendra Modi that it would hire 75,000 more people from India in three years. Currently, the workforce of the company is 3,45,000, out of which 65,000 are Indians.

Around 15% of the company's employees live and work in India, which will increase to 25% in three years, widening its reach to tier-two and tier-three cities, he said.

Image Source

Also read: India received $64 billion in Foreign Direct Investment in 2020: UN

Infrastructure Transport

12 Mar 2026

Kavach 4.0 Commissioned on Delhi–Mumbai and Delhi–Howrah

"Kavach version four has been commissioned on 1,452 route km, covering the high density Delhi–Mumbai and Delhi–Howrah corridors. The rollout included laying 8,570 km of optical fibre, installation of 1,100 telecom towers, deployment of trackside equipment over 6,776 RKm and establishment of 767 station data centres. Trackside implementation has been taken up on 24,427 RKm covering Golden Quadrilateral, Golden Diagonal and High Density Network sections. The programme aims to strengthen signalling and train protection on key routes.Kavach is an indigenously developed automatic train protecti..

Railways Advance Kalyan–Murbad Line And Mumbai Capacity Expansion

"Indian Railways is advancing multiple rail infrastructure projects in Maharashtra, including the sanctioned Kalyan–Murbad new line and sizable investments under the Mumbai Urban Transport Project and the Mumbai–Ahmedabad High Speed Rail project. The Kalyan–Murbad 28 km new line has been sanctioned at Rs 8.36 billion (bn) on a 50:50 cost-sharing basis with the Government of Maharashtra and has been declared a Special Railway Project for land acquisition; proposals covering 214 hectares are at various stages of acquisition. Budgetary outlay for projects falling fully or partly in Maharash..

Parliamentary Panel Flags Funding Gaps in Heavy Industries

"The Department-Related Parliamentary Standing Committee on Industry (Rajya Sabha) presented its 332nd report on the Demands for Grants 2026-27 of the Ministry of Heavy Industries (MHI). Figures converted from crore and lakh are expressed in million (mn). The Budget Estimates 2026-27 for the Ministry stand at Rs 79,399 mn against a projected requirement of Rs 94,843.2 mn, a shortfall of about 16 per cent, with revenue at Rs 79,370.8 mn and capital compressed to Rs 28.2 mn from Rs 5,020 mn.The committee flagged recurring BE-to-RE compression and declining revised estimate utilisation, and calle..