‘invest in india’
| Date :11-Jul-2020 |
HAVING stood equal to the challenges like COVID-19 and the Chinese brazenness, Prime Minister Mr. Narendra Modi has now focused on wooing global players to invest money in India and take the fullest possible advantage of the investment-friendly environment in the country. Pushing the encouraging idea of ‘green shoots’ becoming visible in the economic landscape of the country, Mr. Modi said at the India Global Week 2020, “India remains one of the most open economies in the world”. The Prime Minister’s confidence and optimism reflects the positivism the Government has been able to infuse into the economy through its massive bail-out package -- easily among the best and the highest in the world -- encompassing all sectors.
This push is certainly going to help India recover from the economic setback post-COVID-19 pandemic, no matter the high degree of difficulty in the current situation. The best part of the Government’s efforts is that industry and business, too, are aligning themselves positively with the various proactive initiatives. Even the hard-headed corporate honchos who believe only in hard numbers are of the firm opinion that in the times to come, India will be one of the top countries recovering faster than others and regain normalcy in economic matters.
This collective confidence, eventually, will prove to be the plus point in the Indian economy’s upsurge. There is no poeticism involved in this confidence as it is based on a long-term assessment of how India has behaved in the past whenever an economic setback or challenge arose to disturb the national equations and equilibrium. The world has often acknowledged and appreciated the famed Indian resilience and innovative spirit. Coupled with the Government’s bail-out package plus economic reforms, India has proved itself to be a top investment destination of the world.
In the past 5-6 years, India’s ‘ease-of-doing-business’ quotient, too, has remained high despite difficulties, despite some politically-motivated anti-propaganda. “We are laying a red carpet for all global companies to come and establish their presence in India. Very few countries will offer the kind of opportunities India does today. ... We are making the economy more productive, investment-friendly and competitive. ... There are many possibilities and opportunities in various sunrise sectors in India ...”, the Prime Minister asserted. His words stemmed from the sense of assurance the Government has created generally in the past 5-6 years and particularly in the past 3-4 months when the coronavirus pandemic made the economy go into a tailspin mode. Mr. Modi’s appeal, most importantly, sought to push aside all doubts that may be troubling the global investing community.
Just a couple of days earlier, NITI Aayog Chief Executive Officer Mr. Amitabh Kant also talked of the ‘green shoots’ becoming visible on the economic horizon. He, too, had expressed a confidence that the Indian economy would bounce back in due course of time. Despite the decline in Government revenues, Mr. Kant had expressed confidence that the gradual unlocking would improve the revenues shortly and the economy would start looking up, making the all-important observation at the FICCI FRAMES 2020’ meet, while suggesting that opportunities could be available in 10-12 sectors.
In his address, Mr. Modi also talked of the defence and space-tech areas offering big opportunities for the manufacturing sector. BUt as he talked of the economic areas in which opportunities would be available in abundance, the Prime Minister also talked of the spiritual factor -- of how the Indians have often made impossible possible. Now also, that spirit will show up in the right measure, he stressed. The push the Prime Minister added to the idea of recovery will certainly go a long way in sprucing up of the economy in the next some time. The tone of optimism and certainty of success cannot be missed from the statement that came at the right time.