‘The India story is strong today, will grow even stronger tomorrow’: PM Modi
‘The answer to all your questions is India. There is opportunity for everyone’, PM Modi tells Canadian investors at Invest India conference.Updated: Oct 08, 2020, 19:46 IST
Prime Minister Narendra Modi said India is one of the most attractive centres of investments as there are opportunities for everyone to set up units and run investments in the country while virtually addressing the Invest India Conference in Canada.
Speaking to Canadian investors, he highlighted that both nations India and Canada have contributed to each other’s growth. He said, “Canada is home to some of the largest & most experienced infrastructure investors. Canadian Pension Funds were among the first investors to start investing in India. Many of them have already discovered great opportunities in a range of areas like highways, airports, logistics.”
He said investors have an opportunity to grow in India and work with governmental as well as private bodies. PM Modi said, “In the post-Covid world, you will hear that there are multiple problems, problems of manufacturing, supply chains etc. but problems are natural. But, India has emerged above these problems and by showing resilience we have made it a land of solutions.”
PM Modi highlighted that despite ‘disrupted logistics’ India has been able to deposit money directly to farmers, poor and needy people and women. He also said that foodgrains and cooking gas was supplied to those who needed it the most during the pandemic.
Speaking to investors, Modi said during the pandemic India has played the role of ‘pharmacy of the world.’ He said, “Before the pandemic, India hardly manufactured PPE kits. Now, India is one the largest manufacturers of PPE kits.” He reiterated that India is ready to help the world with Covid-19 vaccine production and storage.
Highlighting the liberalisation of the foreign direct investment PM Modi said that India has created a ‘friendly regime for sovereign wealth and pension funds.” He said, “We have undertaken several reforms to develop robust bond market.”
PM Modi assured investors present in the virtual conference that incentive schemes have been brought up for several sectors like pharmaceuticals and medical devices and electronical manufacturing. “We want to ensure high-level intention and effective handholding for investors,” he further added.