multinational The interest of companies in India is increasing and the country is benefiting from this. These companies are looking at India as an alternative manufacturing base in the context of their strategies to diversify the supply chain of developed economies. Due to this, investment in India remains strong. This has been said in a United Nations report released on Tuesday. The report titled ‘Financing for Sustainable Development Report 2024: Financing for Development at a Crossroads (FSDR 2024)’ calls for urgent action to mobilize large-scale funds to close the funding gap for development. Needed.
Global investment likely to remain soft
According to the report, this funding gap is now estimated to reach $4,200 billion annually. Before the Covid-19 pandemic it was $2,500 billion. Meanwhile, rising political tensions globally, climate disasters and a global crisis in living standards have affected billions of people. This has affected progress in terms of health, education and other development goals. The report said that investment at the global level is likely to remain soft.
Investment remains strong in India
“In contrast, investment in South Asia, particularly India, remains strong,” it said. The country is benefiting from the increasing interest of multinational companies in India. These companies are looking at it as an alternative manufacturing base in the context of strategies to diversify the supply system of developed economies.
It became difficult for governments to borrow
The report said that prospects are also weak in most developing countries due to weak global demand, volatility in commodity prices, high cost of borrowing and pressure to strengthen fiscal position. According to it, “High debt levels amid slow economic growth are limiting fiscal space.” This has made it difficult for governments to borrow and invest. “Conflicts in Africa and West Asia have hampered investment in some parts of these regions.”
Latest Business News