India continues to open up its sectors to global investors by raising investment limits, says Minister
The Multi Modal Transport System is the future of every city while Prime Minister Gati Shakti plan has not only accelerated the pace of infrastructure development, but has also reduced the cost of projects.
The Minister of Ports, Shipping & Waterways Sarbananda Sonowal gave this message to the Global Investor Summit in Visakhapatnam, Andhra Pradesh, on 4 Mar 2023 as he made a strong pitch for the India Growth Story.
Sonowal echoed growth prospects saying, “India continues to open up its sectors to global investors by raising the investment limits, removing regulatory barriers, developing infrastructure and improving the business environment.
“India will attract the eyes of overseas investors in 2023 on account of measures such as the rollout of the production-linked incentive (PLI) schemes; promote ease of doing business, reducing the compliance burden for industry and the projection of healthy economic growth.”
The Rs.1.97 lakh crore PLI scheme covers 14 sectors, including white goods, telecom and auto components to enhance India’s manufacturing capabilities and exports, said the Minister.
“Andhra Pradesh and the coastal regions of India will move ahead in this race for development with a new momentum.”
He called for increased investment from the businesses in the India growth story.
Sonowal said, “As per the latest Economic Survey, India received the highest ever FDI inflows of US$84.8 billion in service sector during the last fiscal. This is a result of the Government’s investor friendly FDI policy.” fiinews.com
