PM highlights initiatives for the robust Bond market
India became the pharmacy of the world during the COVID-19 pandemic, supplying medicine to around 150 countries despite the stringent lockdown imposed in the country.
Sharing this with Invest India Conference in Canada through video conference on 8 Oct 2020, Prime Minister Narendra Modi pointed out that India showed resilience and emerged as a land of solutions to overcome various kinds of problems related to manufacturing, supply chains among others in the post-COVID-19 world.
He made a commitment to ramping up production and helping the entire world in vaccine production for Covid-19.
Before the pandemic, India hardly manufactured PPE kits but today not only does India manufacture millions of PPE kits every month, it exports them too, he pointed out.
On investment, the Prime Minister called on the “Matured Canadian investors”, who have been in India for many years, to be “our best brand ambassadors”.
Their experience, their plan to expand and diversify can be the most credible evidence for other Canadian investors to come here too. He promised no barriers to the Canadian investors in India.
The Prime Minister explained how India’s story is growing stronger by listing the initiatives of the Government in creating a business-friendly environment.
He listed initiatives like liberalizing the FDI regime, creating a friendly tax regime for Sovereign Wealth and Pension Funds, bringing significant reforms for developing a robust Bond market, Incentive schemes for Champion sectors.
Schemes in sectors like Pharma, Medical Devices and Electronics Manufacturing are already in operation. For ensuring high-level attention and effective hand-holding for investors, a dedicated Empowered Group of Secretaries has been formed.
Modi highlighted the proactive monetization of assets such as Airports, Railways, Highways, Power Transmission lines, etc. The Real Estate Investment Trusts and Infrastructure Investment Trusts have been fully enabled for monetization of both public and private assets.
Due to these improvements, India received around US$70 billion from Institutional Investors between January 2019 to July 2020. India is seen by the fact that FDI into India went up by 20% in 2019 when global FDI inflows fell by 1%, he pointed out.
India has already received over US$20 billion during the first 6 months of this year from across the globe when COVID-19 has been at a peak globally. #investment #manufacturing #exports #trade /fiinews.com
