FDI and Growth of Economy – with Reference to Realty Sector in India
Keywords:
Foreign Direct Investment, economic growth, Realty sectorAbstract
In India after agriculture, the real estate sector is the second largest industry and it is asserted to be the most promising sector even today. The real estate market in India mostly continues to remain unorganized, fairly fragmented, mostly characterized by small players with local presence. Indian real estate has huge potential demand in almost every sector especially commercial, residential, retail, and industrial, hospitality, and healthcare etc. More emphasis was laid on FDIs in real estate only from 2005. Secondary data has been used for the study. The FDI inflow data from 2002-2013has been considered. This data is used to assess the impact of FDI’s in India and economic growth achieved through FDI flows. This paper aims at analyzing the flow of FDIs in realty sector in India and the impact of GDP along with the RBI initiations for attracting more FDIs into the realty sector. It is observed that FDI inflows into several sectors into India are devoid of the declining GDP growth rate which includes the Realty sector also. The impact on economic growth by the Government and FDI intervention, and certain efforts in Realty has in fact helped the economy grow and vice versa.
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