A global survey by leading consultancy firm Ernst and Young has ranked India as the most attractive investment destination for foreign investors because of the country’s opening up to foreign direct investment (FDI).

“With sharp currency depreciation and opening up of FDI in various sectors, India has become an attractive destination for foreign investors,” an Ernst and Young report said.

The survey report puts Brazil in the second position, China in the third spot, followed by Canada and the US in the list of 10 countries.

India in August opened up FDI in various sectors, including multi-brand retail.