25 July , 2020 Fdiindia
Modi Pitches Indian Land to Foreign Investors
Prime Minister Modi said that the focus is on optimization and efficiency, as a major pitfall for the global economy and also suggested that this can be improved with the domestic manufacturing as well as healthy and working financial system.
"India offers many more opportunities. We have what is needed to power the global economic recovery," he said.
Speaking at the 'India Ideas Summit', he said that the US investment in sectors that encompass healthcare, energy, defence and space, saying that the country is very well open to doing business with the world.
"The US-India friendship has scaled many heights in the past. Now it is time our partnership plays an important role in helping the world bounce back faster after the pandemic," he said. "There are few better partners than the United States of America and India. India and the USA are two vibrant democracies with shared values. We are natural partners."
"Efficiency is a good thing. But, on the way, we forgot to focus on something equally important. That is resilience against external shocks. It has taken a global pandemic to remind us how important resilience is," he said.
"American investors often look out for the perfect timing to enter a sector or a country. To them, I would like to say: there has never been a better time to invest in India," he said.
"Every year, we are reaching record highs in FDI," he said, adding pledged investment from the US has already crossed $40 billion this year.
"The rise of India means a rise in trade opportunities with a nation that you can trust, a rise in global integration with increasing openness, a rise in your competitiveness with access to a market which offers scale. And a rise in your returns on investment with the availability of skilled human resources," he said.
"When the markets are open, when the opportunity is high and the options are many, can optimism be far behind? You can see the optimism when India rises in key business ratings. Particularly, the Ease of Doing Business ratings of the World Bank," he said.
He also added that "India has established two defense corridors to encourage the production of defense equipment and platforms,".
"Civil Aviation is another area of great potential growth. The number of air passengers is expected to more than double within the next eight years. The top private Indian airlines plan to include over a thousand new aircraft over the coming decade," he said.
Modi also added, "India invites you to invest in healthcare. The healthcare sector in India is growing faster than 22 per cent every year. Our companies are also progressing in production of medical-technology, telemedicine, and diagnostics,"
"The options to invest in India are extensive. To give flight to your aviation targets, this is an ideal time to invest in the Indian aviation sector," he said. Prime Minister Modi suggests this is a great sign of confidence.