Abstract
India continues to integrate into the global economy, and foreign direct investment has emerged as an important driver of economic growth and development. The study provides a comprehensive overview and examines the impact of foreign direct investment on the growth trajectories of the banking and insurance sectors in India. The impact of the growth of these sectors and foreign investment on India's economic growth are explored. The study uses time series data for the period 2002-2022 and employs correlation and multiple regression analysis techniques to analyze the data. The findings of the study indicate a positive relationship between FDI inflows and the growth of the banking and insurance sectors in India. The results also showed a strong relationship between the growth of the banking and insurance sectors and foreign direct investment flows. The results of the analysis showed that foreign direct investment has a positive impact on economic growth in India, as the inflow of foreign direct investment by 1,996 million dollars will lead to growth in the economy by 666,683 million dollars.
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