New York: Prime Minister Narendra Modi outlined the benefits of investing in India and invited the international companies to come and invest in a country that is defeating poverty and improving the business environment. He also said that India is planning to spend $1.3 trillion on modern infrastructure in the country.
Narendra Modi, while speaking at the Bloomberg Global Business Forum 2019, said, “Today, there is a government in India that is working towards improving the business environment in the country. India’s decision to cut corporate tax has sent a positive message.”
The PM also became an ambassador for the start up community in India and asked the big companies to come and put their money in Indian start ups because they have potential. He reminded that India stands at number three in terms of unicorns after the US and China.
Prime Minister said, “In the coming years, we are going to spend around 1.3 trillion dollars on modern infrastructure in India… If you want to invest in a market where there is scale, come to India. If you want to invest in one of the largest infrastructure ecosystem and urbanisation, then come to India.”
Narendra Modi stressed that democracy and judiciary ensures that there is safety for their investments and the demography of the country is best for engineering and R&D.
He also said that reforms such as GST is making India rise in global ranking and said that before there were a tangle on taxes and now there is only one GST.
Modi also stressed about his government’s commitment to make India a $5 trillion economy. He said, “When we came to power, India’s economy was about $2 trillion. We have added 1 trillion. We are determined to reach $5 trillion. We have capability and conditions with us.”
The Prime Minister’s much publicized welcome ‘Howdy Modi’ has raised the status of India in the country. This has helped investors confidence in investing in India more. The stability of the country’s macro fundamentals and its strong government has definitely showing turned the tide in favour of India globally.
