Emerging protectionist policies in the west will not fence India's FDI inflow - CEO, NITI Aayog

Experts believe that India's growing presence in the global market is a threat to some of the developed economies. To protect their markets from the emerging dominance of India and China they are fortifying their markets with harder laws. Though the Modi-led government is positive about the FDI growth of the country. NITI Aayog CEO, Amitabh Kant said that the inflow of the Foreign Direct Investment will grow "unabated", despite the steady rise of the "protectionist" policies" in the west.

The country's economy will skyrocket and will woo foreign investors in the coming few years, assured, the CEO of NITI Aayog.

Indian economy is backed by a young workforce and the country is aiming at a growth rate of 9% in the forthcoming years, said Kant while addressing senior diplomats from various countries and business leaders at the annual Ambassador's Meet.

"We have seen Brexit, and (US President Donald) Trump talking of protectionism. But, we believe in globalisation and we have opened up India's economy", said CEO, NITI Aayog. 

"Our FDI growth has gone up by 60 per cent while the world FDI has fallen by 16 per cent. So, our FDI regime will grow unabated despite trends to do the reverse being seen globally, at places elsewhere," Kant said. 

The NITI Aayog CEO also said India has become a centre of "frugal engineering" and technology will help it "leapfrog" in multiple sectors, including health and innovation and make the country more prosperous.

Kant added, "mobile telephony and biometric-driven services" will be the future of the country.