PM Modi invites US firms to invest in India

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PM Narendra Modi
PM Narendra Modi

Prime Minister Narendra Modi invited US companies to invest in India’s healthcare, infrastructure, defense, electricity, farming, and insurance sectors on Wednesday, saying the country offers transparency, investment opportunities, and choices.

“Today there is global optimism towards India because India offers a perfect combination of transparency, opportunities, and choices. Let me elaborate. India celebrates transparency in people and governance,” Modi said while addressing the US-India Business Council.

He said the coronavirus pandemic has shown the importance of economic resilience, which can be achieved by stronger domestic economic capacities.

“It means enhancing domestic manufacturing capability, restoring financial system stability, and diversifying foreign trade,” he said.

“India is emerging as a land of opportunities. Let me give you one example of the tech sector. Recently, an interesting study came out in India. It says there are more rural internet users than even urban internet users for the first time,” he says.

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To say that open markets mean more opportunities, Mr. Modi said the government has made a lot of efforts over the last six years to make the Indian economy more accessible and reform-oriented.

Reforms have ensured greater competition, openness, digitization, innovation, and continuity of policies, the Prime Minister said.

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