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Commerce and Industry Minister Piyush Goyal has said foreign direct investments into the country is on the rise, jumping to $12.1 billion in May this year. He said ‘India has received the highest ever foreign direct investment (FDI) inflow in 2020-21. It surged by 10 per cent to $81.72 billion and FDI during May 2021 is $12.1 billion, i.e. 203 per cent higher than May 2020.’ He also said the government is working on a mission mode to achieve exports target of $400 billion in 2021-22.

He said that exports are recording healthy growth and during August 1-14, the outbound shipments grew 71 per cent over 2020-21 and 23 per cent over 2019-20. According to the minister, India's average applied import tariff (duty) has dropped to 15 per cent in 2020 from 17.6 per cent in 2019, and the country's applied tariffs are way below the bound rate of 50.8 per cent (permissible limit under the World Trade Organization).

Talking about employment, he said more than 54,000 startups were providing about 5.5 lakh jobs and over 20 lakh jobs will be created by 50,000 new startups in the next five years. “It is time for our industry to expand our capacity, capability and commitment to develop resilient global supply chains,' he said, adding that the Centre expects that the Indian industry should suggest areas for intervention through research, handholding of exporters/ manufacturers, and deeper engagement with states and Missions.