India becomes the leading investment destination

INVinsidIn a survey of over 500 global investors published by accountants Ernst & Young (EY), India has been named the most attractive country for investment, as 32% of 505 executives questioned favoured India for investment, followed by China in second place, followed by Southeast Asia, Brazil and North America.

EY’s managing partner for Europe, India, Africa and the Middle East, Mark Otty, said investors see the potential and understand the fundamentals.

The survey results show an apparent vote of confidence in PM Narendra Modi’s reform agenda, dulling the notorious red tape, complex rules, and poor infrastructure that had long posed obstacles for wannabe investors in the past.

According to the IMF as well, India is poised to become the fastest growing major economy this year.