According to the PHD Chamber of Commerce and Industry (PHDCCI), India is expected to attract $100 billion in foreign direct investment (FDI) in 2022-23 due to recent economic reforms and ease of doing business. It also said that the current financial year is likely to see a GDP growth of more than 8 per cent. However, the inflation scenario has been fueled by increasing international commodity prices.

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“India will likely reach a $100 billion FDI inflow in 2022-23 supported by different ground touching economic reforms and significant ease of doing business in recent years,” the industry chamber said. It has also proposed a ten-point strategy to boost economic growth and help the country reach its goal of becoming a $5 trillion economy in the next five years. The suggestions included speedy infrastructure investments, including more sectors under the PLI scheme, an increase in public investments in the agriculture sector, and addressing the high commodity prices and shortages of raw materials.