New Delhi, Apr 14 (PTI) India is expected to attract USD 100 billion foreign direct investment (FDI) in 2022-23 on the back of economic reforms and ease of doing business in recent years, industry chamber PHDCCI said on Thursday.

It also said the current financial year is expected to attain a GDP growth of more than 8 per cent.

Also Read | Realme GT 2 Pro Now Available for Sale via Flipkart, Check Offers Here.

However, the inflation scenario has been stoked by rising international commodity prices, particularly of crude oil, it said.

"India is expected to attract a USD 100 billion FDI inflow in 2022-23 supported by various ground touching economic reforms and significant ease of doing business in recent years," the chamber said.

Also Read | Monsoon 2022 Forecast: SouthWest Monsoon Rainfall Likely To Be Normal, Says IMD.

It has suggested a ten-pronged strategy to strengthen the economic growth and achieve the target of becoming a USD 5 trillion economy in next five years.

The suggestions include speedy infrastructure investments, inclusion of more sectors under the PLI scheme, increase in public investments in agriculture sector, addressing the high commodity prices and shortages of raw materials.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)