ADB Chief Highlights FTAs and Tariff Reductions as Key to Boosting India's FDI
The Asian Development Bank (ADB) Chief Economist Albert Park has emphasized the importance of Free Trade Agreements (FTAs), reduced import tariffs, and an improved business environment to enhance foreign direct investment (FDI) in India. Park noted that India's net FDI inflows have decreased significantly over recent years, from $38.6 billion in 2021-22 to $10.2 billion in FY24. He suggested that developing industrial zones with robust infrastructure could make India more attractive to foreign firms. Park also highlighted the need for better governance of cities through integrated planning to meet business needs efficiently. The ADB has projected India's GDP growth to remain robust, despite challenges such as high oil prices and the ongoing Middle East crisis. 
