India attracted $351 billion FDI 2021-2025, more than double China
India has pulled in $351 billion in foreign direct investment (FDI) for new projects between 2021 and 2025, more than double what China got, according to a Boston Consulting Group report.
While India's FDI jumped 61% from the previous five years, China's actually dropped by more than one-half.
China plus 1 drives India investment
With global supply chains getting shaken up by geopolitics, companies are now looking at India as a top spot for investment, especially with the "China Plus One" strategy pushing firms to branch out beyond China after the pandemic.
BCG's Nikolaus Lang says India's huge market is a big draw, but he points out there's still work to do on infrastructure and skills if this momentum is going to last.
Southeast Asian countries like Malaysia and Indonesia also saw gains, while Vietnam and the Philippines slipped back.