The government plans to raise India's share in the global foreign direct investment (FDI) to 5% by 2017 by streamlining policies for attracting investments.
The Department of Industrial Policy and Promotion (DIPP) has set a goal "to increase FDI inflows to India by improving its global share from 1.3% in 2007 to 5% by 2017".
A report of the DIPP said that India has already emerged as one of the most preferred destinations for foreign investment and "this eminent position will need to be sustained".
Since in a globalised economy manufacturers have the choice to locate in any part of the world to get a competitive advantage, "DIPP will aim at sustaining this preferred location status for India," it said.
Experts said the aim is achievable provided some major economic reforms like FDI In multi-brand retail can be implemented on time.
"This can be done but for that there is a need to further improve the investment climate of the country," Ficci Secretary General Rajiv Kumar said.
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