World Bank arm IFC said Wednesday it has invested a record USD 2.6 billion in India in 2017-18, which grew by more than 100 per cent over the previous two years.
"IFC invested a record USD 2.6 billion in India in FY2018 a rise of 136 per cent over the figure two years ago -- in the key priority areas of infrastructure, logistics, inclusion, and sustainability," IFC said in a release.
These investments are all long-term, made over 40 engagements with partners ranging from new-age start-ups, such as Coverfox and Bizongo, to established names such as Mahindra & Mahindra and HDFC, it said.
"This is an all-time high and addresses key development gaps through select and systemic interventions in affordable housing, small and medium enterprises, distressed assets, technology start-ups, logistics, agriculture, renewable energy, and sustainable mobility."
These sectors will remain the cornerstones of IFC's investment and advisory activities in India in the years to come, said the World Bank group entity.
Over these years, investments in infrastructure crossed USD 1 billion for the first time, and climate-related investments, too, crossed USD 1 billion to touch a record high, IFC said.
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Besides, IFC's work in the area of distressed assets has the potential to address 12 per cent to 15 per cent of India's non-performing assets.
"As we complete six decades in India, we continue to believe in the country's fundamentals and want to spur growth that is inclusive, sustainable, and fast," said Mengistu Alemayehu, Director, South Asia, IFC.
India is IFC's largest country with an investment portfolio of USD 6.1 billion, which is 11 per cent of the global committed portfolio.
India is also its largest equity exposure, and the largest advisory client.
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