Power of Indian talent-International technology
Prime Minister Narendra Modi has invited the global business community to invest in India and pointed out that their technology and India’s talent can together change the world.
The technology combination with India’s skill set can accelerate global economic growth, he said during interactive session with the founder of Bloomberg, Michael Bloomberg, in New York on 25 Sept 2019.
Addressing the Bloomberg Global Business Forum, Modi told the world’s major businesses that India offers a never-before opportunities to invest and his government offers “capability, courage and conditions” to provide Investment security and a guarantee of safe growth.
The Prime Minister said any investor who wanted to invest in a market of scale should to come to India because it currently possessed four major attributes that are not available in any other country.
Modi benchmarked Indian plans covering projects and schemes with global standards. He listed the health insurance scheme for Indians that was more than the combined population of North America, investments to the tune of US$1.3 trillion to strengthen infrastructure, the opening of its defence sector like never before, and investing massively in social infrastructure.
The Indian growth story has four major factors “democracy demography, demand and decisiveness”, pointing out that no other country possesses this unique combination.
He underlined the demographic dividend of a young, energetic and a talented pool and increasing demand as India’s population is getting economically empowered.
“What today makes India special is decisiveness. In the past five years, we have been creating a seamless, inclusive and transparent system,” said the Prime Minister, dismissing any notions about opposition to reforms and development.
Investor trust has increased in India, underlined Modi, saying “We have opened out defence sector like never before. If you want to ‘Make in India’ come to India.”
India is rapidly modernising its cities. “If you want to invest in urbanization, come to India.
“If you want to invest in a market where the latest trends are appreciated, come to India. If you want to invest in start ups with a huge market, come to India,” he said.
India recently reduced corporate tax and has scrapped archaic laws that impeded ease of doing business in the country, he told America-based businesses.
He also highlighted a Bloomberg National Brand Tracker 2018 survey that recently ranked India as the top performing Asian economy in attracting global investment. In 7 out of 10 indicators of this report i.e. political stability, currency stability, high quality products, anti-corruption, low cost of production, strategic location and respect for IPRs, India has been ranked at the top position. fiinews.com
