Context:
Recently, the United Nations Conference on Trade and Development (UNCTAD) published its World Investment Report 2023.
Relevance:
GS II: Indian Economy
Dimensions of the Article:
- Highlights of the report
- About the United Nations Conference on Trade and Development (UNCTAD)
Highlights of the report:
- India and ASEAN: India and the Association of Southeast Asian Nations (ASEAN) experienced significant increases of 10% and 5% respectively in foreign direct investment (FDI) inflows.
- Developing Countries: FDI inflows were higher in developing countries compared to developed economies.
- China: China, the second-largest recipient of FDI globally, saw a 5% increase in FDI inflows.
- Gulf Region: FDI in the Gulf region declined, but the number of project announcements increased by two-thirds.
- Stagnant Inflows: Many smaller developing countries experienced stagnant FDI inflows, and FDI to the least developed countries (LDCs) declined.
- Renewable Energy: The growth in international investment in renewable energy has mainly been concentrated in developed countries.
- Investment Gap: The investment gap across all sectors of the Sustainable Development Goals (SDGs) has increased to over $4 trillion per year, up from $2.5 trillion in 2015.
- Infrastructure Gaps: The largest investment gaps are observed in energy, water, and transport infrastructure.
About the United Nations Conference on Trade and Development (UNCTAD):
- Establishment: UNCTAD is a permanent inter-governmental body established by the United Nations General Assembly in 1964.
- Mandate: UNCTAD’s primary focus is on development issues, particularly international trade. It plays a role in framing policies in various domains, including trade, technology, finance, aid, and transport.
- Conference: The UNCTAD Conference typically convenes once every four years to discuss and address development-related matters. The second UNCTAD Conference took place in New Delhi, India in 1968.
- Membership: UNCTAD has 195 member countries.
- Headquarters: UNCTAD is headquartered in Geneva, Switzerland.
- Reports: UNCTAD publishes various reports, including the Trade and Development Report, The Least Developed Countries Report, and the Commodities and Development Report, among others.
Source: The Economic Times
