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India’s economy could prove to be “most resilient” in subregion over long term: UN

Source | | PTI

India’s fast-growing telecom and digital space, in particular, could see a faster rebound, the UN report said.

India’s economy could prove to be the “most resilient” in the subregion of South and South-West Asia over the long term, according to a report by the UN, which says a positive but lower economic growth post COVID-19 pandemic and the country’s large market will continue to attract investments.

The report titled “Foreign Direct Investment Trends And Outlook In Asia And The Pacific 2020/2021” and compiled by United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), stated that inward FDI flows to South and South-West Asia slightly decreased by 2% in 2019, from $67 billion in 2018 to $66 billion in 2019.

The growth, however, was mainly driven by India, which accounted for 77% of the total inflows to the subregion and received $51 billion in 2019, up 20% from the previous year.

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