India, Jan. 30 -- The Economic Survey on Thursday called for a multi-pronged strategy to strengthen the country's investment climate by addressing both structural and cyclical factors, noting that the key challenge going forward is sustaining FDI inflows amid heightened global volatility.

It said that the window for action is still open, but it will not remain so indefinitely. There is a need to move decisively to transform the FDI challenge into the next chapter of the economic growth story, it said. Despite a clear Government intent and proven economic management, FDI inflows remain below their potential, especially for infrastructure needs.

"Proactive reforms are essential to attract more foreign investment," it said adding this appr...