PM Modi invites overseas bizmen to invest in India

Tribune News Service

New Delhi, September 3

Prime Minister Narendra Modi utilised a surprise appearance at a high-powered webinar on Thursday to tell the world that India is resolutely battling the Covid-19 pandemic, but is now prepared for more investments.

Pointing out that the pandemic period has seen Indian opening up opportunities in public and private sectors, in core industries as well as the social sector, the PM called on US industrialists at the webinar to “come be a part of journey with us where ease of living is as important as ease of doing business”.

The PM opted to deliver the keynote address at the US-India Strategic Partnership Forum (USISPF) on Wednesday, after India’s first quarter GDP growth was estimated at minus 29 per cent.

“Companies are looking for reliability and policy stability. India is the location which has all these qualities. As a result, India is becoming the leading destination for foreign investment. The world believes in us. We have received over $20 billion in foreign investment this year. It rose 20 per cent in 2019 when globally, overseas investments fell by one per cent. This shows the success of our FDI regime,” the PM noted.

To emphasise the point that India is safe for business, the PM recounted the steps taken to shore up the health infrastructure. The outcome of these efforts was that a country with 1.3 billion people and limited resources has one of the lowest death rates per million in the world and the recovery rate is also steadily rising.

Apart from detailing all business friendly measures taken so far in a 15-minute speech delivered in English, the PM was also keen to underline to the international audience that the country also looked after its poor and maintained social stability despite the loss of earnings due to the lockdown.

“In the last four months, the nation has battled Covid and other natural crises such as floods, two cyclones and a locust attack. But, it made people’s resolve stronger. Throughout, the government was clear on one thing: the poor have to be protected. This led to the largest support system seen everywhere globally,” he observed.