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Narendra Modi invites U.S. firms to invest in India

Prime Minister Narendra Modi addresses the India Ideas Summit organised by the U.S.-India Business Council on July 22, 2020. Photo: Twitter/@narendramodi via PTI

Prime Minister Narendra Modi addresses the India Ideas Summit organised by the U.S.-India Business Council on July 22, 2020. Photo: Twitter/@narendramodi via PTI  

Prime Minister Narendra Modi on Wednesday invited U.S. companies to invest in India’s healthcare, infrastructure, defence, energy, farm and insurance sectors, saying the country offers openness and opportunities.

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“Today, there is global optimism towards India. This is because India offers a perfect combination of openness, opportunities and options. Let me elaborate. India celebrates openness in people and in governance,” Mr. Modi, said while addressing the U.S.-India Business Council.

Economic resilience

He said the COVID-19 pandemic had shown the importance of economic resilience, which can be achieved by stronger domestic economic capacities.

“This means improved domestic capacity for manufacturing, restoring the health of the financial system and diversification of international trade,” he added.

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“India is emerging as a land of opportunities. Let me give you one example of the tech sector. Recently, an interesting report came out in India. It said for the first time ever, there are more rural Internet users than even urban Internet users,” he said.

Stating that open markets mean more opportunities, Mr. Modi said during the last six years the government had made many efforts to make the Indian economy more open and reform-oriented.

Reforms have ensured increased competitiveness, transparency, digitisation, innovation and policy stability, the Prime Minister said.

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Printable version | Oct 1, 2020 3:38:22 AM | https://www.thehindu.com/news/national/narendra-modi-invites-us-firms-to-invest-in-india/article32165805.ece

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