According to a survey titled ‘European attractiveness survey' by leading global consultancy firm Ernst & Young, India and China have emerged as the preferred investment destinations on the back of robust economic growth.

India shares the fourth position with North America at 22 per cent each, according to the survey of 814 leading global investors. China held 39 per cent share as the most attractive foreign direct investment (FDI) destination for this year followed by Western Europe with 38 per cent share. Central and Eastern Europe appear at third position with 24 per cent.

The study ranked China (66 per cent), India (61 per cent) and Central & Eastern Europe (59 per cent) as the most attractive regions for FDI projects in the next three years, indicating a clear shift in the world's economic weight Eastwards.

The report stated, “For the next three years, investors continue to see China, India and Central and Eastern European (CEE) nations as their route to future riches.” The report added that investors’ hunt for higher returns is leading to global FDI competition on the back of improved economic scenario.