NEW DELHI: The Department for Promotion of Industry and Internal Trade (DPIIT) has identified as many as 106 companies across sectors from 30 countries under its strategic investment targets initiative, an official said. The initiative is aimed at promoting investments in the country.

The initiative was recently discussed during a meeting convened by the Commerce and Industry ministry with industry and exporters. “An outreach was conducted through the ministry and meetings and video conferences are being set-up with leadership of these companies,” the official said, adding that under the initiative, there is also a plan to engage with people of Indian origin (PIO).

There are also plans to hold investment roadshows in countries like the US, Canada, the UAE, Saudi Arabia, the UK, Germany, Sweden, Japan, Taiwan and South Korea.

The initiative assumes significance as Foreign Direct Investment (FDI) into India declined by 22 per cent to $46 billion in 2022-23. Total FDI inflows, which include equity inflows, re-invested earnings and other capital, declined by 16 per cent to $70.97 billion in the last fiscal as against $84.83 billion in 2021-22.