Union Minister said this on industrial clusters and FDI

Union Minister Suresh Pabhu has said that India will aim to receive $100 billion in foreign direct investments in the next two years.

He added that government is also looking at special industrial clusters for countries like Japan, South Korea, China and Russia to be able to invest and operate.

The commerce and industry minister said his ministry has also identified sectors and countries which holds huge potential for investments in India.

He said India would remain a top destination for foreign investors in 2019 and the ministry would look at all sectoral issues that may come come in the way to attracting overseas investments.

The minister said China has agreed to set up industrial parks in India and the Chinese authorities have been asked to give a list of companies that are willing to set up factories in India.

Similarly, India would be happy to welcome firms from Europe and the US who want to move out of other countries and set up manufacturing bases in India, Prabhu said.

The ministry has now decided to help the states undertake a similar exercise for their respective districts.

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