India wins over $20bn investment during the pandemic
Pledged investment from the United States has already crossed US$40 billion this year, Prime Minister Narendra Modi noted, citing information from friends in the US-India Business Council (USIBC).
“Investment is the best show of confidence,” he stressed in his invitations to US investors to participate in the potential of large-scale developments in India.
India has what is needed to power the global economic recovery and there is global optimism towards India because it “offers a perfect combination of openness, opportunities and options”, he told delegates at the India Ideas Summit on 22 July 2020.
India has attracted foreign investment of more than US$20 billion between April and July this year despite the COVID-19 pandemic. In 2019-20, it was US$74 billion, an increase of 20% over the previous year.
The Summit, hosted by the @USIBC is themed ‘Building a Better Future’.
The Prime Minister listed extensive investment opportunities in India and shared the reforms recently undertaken in the agriculture sector.
There are opportunities to invest in areas including agriculture inputs and machinery, agriculture supply chain, food processing sector, fisheries and organic produce.
Noting that the #healthcare sector in India is growing faster than 22% every year and the progress of Indian companies in the production of medical-technology, telemedicine and diagnostics, he said “now is the best time to expand investment in the Indian healthcare sector”.
Other sectors offering tremendous opportunities to invest are energy, #infrastructure creation including building houses, roads, highways and ports as well as civil aviation and Maintenance Repair and Operations facilities.
“The options to invest in India are extensive,” underlined the Prime Minister, listing out in details:
India has done historic reforms in the agriculture sector recently. There are #investment opportunities in #Agricultural inputs and machinery, Agriculture supply chain management, Ready-to-eat items, Fisheries and Organic produce.
India’s food processing sector is expected to be worth over half a trillion dollars by 2025. To grow more streams of revenue, the best time to tap investment opportunities in the Indian agriculture sector is now!
The #Healthcare sector in India is growing faster than 22% every year. “Our companies are also progressing in production of medical-technology, telemedicine and diagnostics,” he pointed out.
India and the US have already built a robust partnership in the Pharma sector. “To achieve scale and speed, now is the best time to expand your investment in the Indian health-care sector!”
As India evolves into a gas-based economy, there will be big investment opportunities for US companies. There are also big opportunities in the clean energy sector. “To generate more power for your investment, this is the best time to enter the Indian power sector!”
India is witnessing the largest infrastructure creation drive in its history. “Come, be a partner in building housing for millions, or building roads, highways and ports in our nation.”
Modi highlighted prospects in the Civil #Aviation sector. The number of air passengers are expected to more than double within the next 8 years. The top private Indian airlines plan to include over a thousand new aircraft over the coming decade. This is a huge opportunity for any investor who chooses to set up manufacturing facilities in India, which can become a base for supplying regional markets.
“A similar case is obvious for setting up Maintenance Repair and Operations facilities. To give flight to your aviation targets, this is an ideal time to invest in the Indian aviation sector.”
“We are raising the #FDI cap for investment in the defense sector to 74% percent,” he assured. India has established two defense corridors to encourage the production of defense equipment and platforms.
“We offer special incentives for private and foreign investors. A few weeks ago, we cleared path-breaking reforms in the space sector. Come, be a part of these upcoming sectors.”
India has raised FDI cap for investment in insurance to 49% and permits 100% for investment in insurance intermediaries. The insurance market in India is growing at a rate of more than 12% and is expected to grow to US$250 billion by 2025.
There are large untapped opportunities for increasing insurance cover in health, agriculture, business and life #insurance.
The Prime Minister said, “To generate long term and assured revenues, the Indian insurance sector is one of the best investment options right now!” @PMO @POTUS /fiinews.com
