According to the UN Conference on Trade and Development (UNCTAD), foreign direct investment (FDI) in India almost doubled in 2015, reaching US$59 billion (FDI inflows to developing Asia rose by 15%). Relaxation of FDI norms in some sectors (including defence, banking, construction, single-brand retail, broadcasting and
civil aviation), and initiatives such as ‘Make in India’ have contributed, and attracted foreign
companies such as Apple. The services sector, whose contribution to GDP amounted to around 52% in 2014-2015, has also been a major driver in attracting FDI. Additionally, according to Indian Minister of Finance, Arun Jatley, India is ‘relatively unimpacted’ by some of the factors that have caused the global crisis.
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