Reported by Rakesh Kumar, Technical Editor, ISHRAE Journal
World Bank data peg India’s gross domestic product (GDP) growth in 2015 at 7.3% - higher than any major world economy. The growth forecast for 2016 is 7.8%, which would be the highest among all major economies. The government is making all-out efforts to attract foreign capital by improving the ease with which business can be done, and by opening up select sectors to 100% foreign direct investment (FDI) through the automatic route. Incentives are being offered under the ‘Make in India’ drive. As a result, India is now among the top three attractive global destinations for inbound investments.