Greenfield FDI monitor fDi Markets has tracked an upsurge in India-destined projects during the first quarter of 2016, surpassing the equivalent period in 2015 by 2.9%. This increase is a continuing trend for the country, one which began in 2013. In 2014 and 2015 project numbers increased by 19.5% and 5.2% respectively.

This increase in project numbers is a trend which has been reflected in both job creation and inward investment capital. fDi Markets recorded 66,669 new jobs during the first quarter of 2016, a 1.4% increase on the same period in 2015, which in turn was a 50.8% increase from 2014’s first quarter. During the first quarter of 2013 just 26,831 jobs were created as a result of inward greenfield FDI. This coincided with a long-term low of 161 projects.

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Capital investment during the first quarter of this year has not managed to surpass the $22.89bn tracked in the same period in 2015. However, the $15.42bn attracted represents a four-year high when 2015’s data is excluded. In the same period, China won just $9.95bn, a 20.1% decline from the first quarter of 2015. Unless fortunes are dramatically reversed in the remaining nine months, India looks set to retain pole position.

In recent years India’s first-quarter performance has been indicative of final end-of-year results. In 2013 the first quarter represented 28% of total FDI entering India, in 2014 28.4% and 2015 28.5%. With 212 projects now recorded during the first quarter of 2016, the year looks set to surpass 2015 and continue the upward trend provided investment levels are maintained.