India offers a perfect combination of openness, opportunities and options, said Prime Minister Narendra Modi. He was addressing senior officials from the government of India and the United States during the India Ideas Summit.
In a pitch to attract foreign investment in India, PM Modi appraised the US audiences about the ways the government is facilitating investors and promising growth in various sectors including infrastructure, defense, and space research. In his address at the India Ideas Summit, Narendra Modi said, “Today, there is global optimism towards India. This is because India offers a perfect combination of openness, opportunities, and options”.
Without naming China, PM Modi deliberately mentioned the importance of openness and transparency in government policies. PM Modi highlighted India’s increasing rank in the ease of doing business index. He emphasized that the faith of the global investor’s community in India has gained momentum in the last couple of years.
He asked the US-based firms to invest in India and avail of the benefits that India offers to them. He further said, “You can see the optimism when India rises in key business ratings, particularly the Ease of Doing Business ratings of the World Bank”.
In October last year, India jumped 14 places to rank 63rd among 190 nations in the World Bank’s Ease of Doing Business ranking. The government has been targeting the 50th spot.
The summit was attended by elites from the US and India. The list included US Secretary of State Mike Pompeo, Foreign Minister S Jaishankar, Finance Minister Nirmala Sitharaman, Commerce and Industry and Railways Minister Piyush Goya and other government officials from the US and India
The two-day virtual summit, organized by the US-India Business Council, is expected to bring together officials from the two nations who are setting the post-coronavirus recovery agenda.