India’s economy will be resilient in long term: UNESCAP

United Nations: A report by United Nations said India’s economy could prove to be the “most resilient” in the subregion of South and South-West Asia over the long term.

The report said a positive but lower economic growth post Covid-19 pandemic and the country’s large market will continue to attract investments.

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

It further said the growth, however, was mainly driven by India, which accounted for 77 per cent of the total inflows to the subregion and received USD 51 billion in 2019. The growth is 20 per cent more from the previous year, it added.

The report said that FDI outflows from South and South-West Asia increased for the fourth consecutive year, modestly growing from USD 14.8 billion in 2018 to USD 15.1 billion in 2019.

The report noted that in the short term, both inflows and outflows from and to the subregion are expected to decline.