With many failed attempts of economic liberalization in 1966 and the 1980s, in 1991, it became possible to attract more FDIs or foreign direct investments in India. From 97 million dollars FDIs in 1990 -91, India has become the fifth-largest FDI recipient in 2020-21 with over 81,722 million per the RBI data. Also, the many reforms after the economic liberalization changed copyright law in India over the years.
Hence, check what FDI is and its continuous inflow into India to make it one of the world's economic superpowers.
What is FDI?
FDI or foreign direct investment is investments made by individuals or businesses in other countries. It may be for taking control of a business entity of another country to have direct control over the daily operations. It brings money, skills, knowledge, and technology to the investing country.
How did FDI influx increase in India?
With the opening up of the economy in 1991, foreign direct investment in India has been increasing rapidly in the last three decades. And especially in the last few years, it has almost three times what it received previously. GOI or the Government of India is increasing the FDI limit from 26% to 49% in the insurance sector. Also, because of the launch of Make in India in 2015, liberalizing the FDI policy in 25 sectors increased the FDI inflow. The increase of the automatic route of FDI in defense manufacturing from 49 to 74 % in 2020 made India the fifth-largest recipient of FDI worldwide.
With the FDI in India rapidly increasing and the changes in the copyright law in India, the demand for the best law firms is also increasing in India. Because only they can help the businesses investing in India bring money, expertise, experience, and the latest technology. Hence to provide them with the right copyright support, only the best law firms will make them successful in India.