NEW DELHI, Aug 30 (TIWN): As investment opportunities drag for China, India not only seems to be a clear beneficiary in terms of an attractive investment destination but also appears to be emerging as the best option with a positive growth and inflation outlook in the current fiscal, according to a research report prepared by the State Bank of India (SBI).

Commenting on China's sliding construction sector, the SBI report said that as India's eastern neighbour struggles with a meltdown in the sector, housing sales in India during the first half of 2022 i.e. between January and June, reached the highest level since the first half of 2013.

The reason behind the boom in housing sales in India was mainly due to low interest rates and affordable pricing of units as well as renewed demand for homes, fuelled by the Coronavirus pandemic, the report noted.

Growing by 60 per cent year-on-year, the sale of 158, 705 units during first half of 2022 was 19 per cent higher than the corresponding period of last year in seven major cities, the SBI report noted.

The research report further underlined the enthusiasm towards India by citing the recent example of "Apple's recent move to shift part production of the iPhone 14 model for world-wide shipping from India, with a negligible time lag lag of a few weeks, post it's slated lau nch on September 7, bears testimony to such optimism".