India's travel and tourism sector
The travel and tourism market in India is set to generate a revenue of USD 23.72 billion in 2024, with a projected annual growth rate (CAGR 2024-2028) of 9.62 per cent, according to projections by the India Brand Equity Foundation (IBEF). This growth trajectory is expected to propel the market volume to USD 34.25 billion by 2028.
India's efforts in the tourist sector, according to Prime Minister Narendra Modi, are focused on protecting its rich cultural legacy and building top-notch facilities for travelers. For the fiscal year 2023–2024, India received a total of USD 17.96 billion in foreign direct investment (FDI), of which USD 11.54 billion was attributable to FDI equity.
IT sector
The IT minister of India Mr. Ashwini Vaishnaw announced on 17th January 2024, that the country aims to achieve US$ 100 billion in annual Foreign direct investment (FDI) in the coming years, they anticipate a consistent growth rate of 6-8% over the next decade, underpinned by a meticulously devised strategy consisting of four major components.
Insurance Sector
In March 2024, Financial Services Secretary Mr. Vivek Joshi said that the government's ongoing liberalization of foreign capital flow regulations has led to the insurance industry attracting about US$ 6.51 billion (Rs. 54,000 crore) in foreign direct investment (FDI) over the previous nine years.
He said that the government increased the maximum amount of foreign direct investment (FDI) permitted from 26% in 2014 to 49% in 2015 and then to 74% in 2021.
Defence Sectors
The Defence Sector have disclosed FDI valued at US$ 612 million (Rs. 5,077 crore). The government further encourages FDI by fostering collaboration on specialized defense technologies with foreign OEMs
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