India has emerged on top of the foreign direct investment league table, overtaking China and the United States, according to the FT data service. A ranking of the top destinations for greenfield investment (measured by estimated capital expenditure) in the first half of 2015 shows India at number one, having attracted roughly $3 billion more than China and $4 billion more than the US.

Investors have started taking interest in the India growth story and the recent visit of Modi to Silicon Valley triggered enormous interest from software and technology czars. Growth is expected to be one of the fastest in the world and several multilateral agencies have said that India remains the bright spot among emerging economies.

The 15-month-old Narendra Modi government has taken several initiatives to make India an attractive investment destination. PM Modi has traveled to several countries laying out a red carpet for foreign investors. The government has relaxed FDI norms in many sectors, including multi-brand retail, telecom and defence.

India is tracking well ahead of where it was at this time last year: it has more than doubled its midyear investment levels, attracting $30 billion by the end of June 2015 compared with $12 billion in the first half of last year.