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India will be one of the top three overseas investment destinations for the next two-three years, according to a survey by Confederation of Indian Industries (CII) and EY, which assessed the country’s competitiveness on selected parameters.

According to the survey, India is the number one choice for future investments for over two-thirds of multinational companies. More than 80% of all respondents and 71% of the non-India headquartered respondents plan to invest globally over the next two-three years and about 30% companies were planning to invest over $500 million each globally.

“The CII-EY survey results strongly indicate that India will be the next global investment hotspot with a high proportion of MNCs (multi-national corporations) placing it at the top of their investment agenda. The recent major structural reforms, proactive government processes and the quick pickup in economic activity following unlock measures are contributing to global investor interest," said Chandrajit Banerjee, director general, CII.

It said new investments will be driven by capacity expansion, digital transformation, research and development and greenfield investments. The respondents said market potential, skilled workforce and political stability are the top reasons to make India their favoured destination.

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