LPG: AN APRON STRING TO INDIA’S EVOLUTION TOWARDS FOREIGN DIRECT INVESTMENT
Liberalization, Privatization, and Globalization (LPG) – unique to this approach; a magic towards this method offers the consumers and sellers to make many choices over several products, and also attracts Foreign Direct Investment(FDI) from various countries and supports as well as urge the nation on the road to the path of progress. Whereas the investors demand profit and the outcome end with pollution. Henceforth, it turns out to be a necessitated thought to study the three decades of ruling policy which favors both the investing and the receiving countries in the globe.After shedding light on the problem, the intention of the study delves on India’s FDI net inflows with the rest of the world, GDP growth and to predict the outlook of the manufacturing industrial sectors of the nation, and the study copes to explore about the growth of exports of India with selected economies namely People's Republic of China (PRC), Newly Industrialized Economies (NIEs) such as South Korea, Taiwan, Singapore, and Hong Kong and economies of the Association of Southeast Asian Nations-5(ASEAN-5) like Indonesia, Malaysia, Philippines, Singapore, and Thailand.World Bank data, Asian Development Outlookdatabase (ADO), Regional offices of RBI, and other government open data sources were used in this study.In particular, this study employs time series forecasting technique to predict the outlook of manufacturing industrial sector. The results of the study show a drastic relation between the inflows, growth and nation’s position with other emerging economies.