India represents rising trade opportunities with a nation that can be trusted and which offers access to a mark that has scale and availability of skilled human resources.
The PM’s remarks at the India-US business summit on Wednesday which was based on the context of anxieties over supply chain in China gave a clear bid about the positions of India being safer for trades and exports.
Modi quoted, “US – India friendship has scaled heights. It’s time that our partnership plays a key role in helping the world bounce back faster after the pandemic. US investors usually look at the perfect timing to enter the country or sector. To them, I would say- There has never been a beer time to invest in India.”
He has also allowed allowance of 100% FDI and big schemes like Ayushman Bharat and the crop insurance products and the sector should grow by $250 billion by 2025. The health sector has also grown by 22%.
He also said, ” There are over half a billion people who are being connected. Opportunities like frontier technology services of 5g, data analytics, quantum computing, blockchain and internet of things.”
With a point of jotting down the synergies which have been in contrast to china that India has always been open about its market. Talking about the global optimism about India, Modi said, “FDI inflows in India in 2019-2020 were $74 billion. There has been an increase of 20% the year before. In the middle of the pandemic, India has attracted over more than $20 billion.”
PM has also increased an FDI of 74% in the defence sector establishing two defence corridors to encourage the production of defence equipment and platforms. Moreover, India would be providing more incentives to private and foreign investors.
Article written by Ompriya Sahoo
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