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Indian Economic Growth Concerning the Impact on FDI (Foreign Direct Investment): Impact of FDI on Indian Economic Growth in the Pharmaceutical Sector
Abstract
The present empirical study has explained the part of foreign direct investment (FDI) in India's economic growth in the pharmaceutical sector. The study has detailed information about the relationship, impact, and forthcoming action of the FDI on the Indian economy. This study applies the e-views software concerning statistical tools used are VECM, ordinary least squares, and VAR. It has considered the secondary data with the year starting from 2011 to 2021. The study has evaluated the results as a good association between the FDI and the pharmaceutical sector. This study suggests that it affected the positive long-term connection of FDI in the pharmaceutical industry and the short-term affinity between FDI and GDP. The study also concluded that the outcomes of foreign direct investment would have positive future movements in GDP.
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