Addressing prominent institutional investors from around the world, Prime Minister Narendra Modi assured that India can provide them strong and reliable returns in these times of crisis. The Prime Minister listed various reforms undertaken by the government that make the nation a lucrative venture prospect for investors all over the world.
India offers you democracy, demography, demand as well as diversity, PM Modi said while addressing representative from 20 of the world's largest pension and sovereign wealth funds at the Virtual Global Investor Roundtable.
"I am conscious of your requirement to provide the funds in your trust the best and safest returns. I would like to emphasise that our approach is of finding long-term and sustainable solutions for issues," Modi said.
"If you want returns with reliability, India is the place to be. If you want demand with democracy, India is the place to be. If you want stability with sustainability, India is the place to be. If you want growth with a green approach, India is the place to be," he further added.
Pointing out that India has shown resilience in terms of economy and administration during the coronavirus pandemic allowing the government to look after people and ensure economic stability.
"Through this year, as India bravely fought the global pandemic, the world saw India's national character. The world also saw India's true strength. It has successfully brought out traits that Indians are known for. A sense of responsibility, a spirit of compassion, national unity, the spark of innovation, India has shown remarkable resilience in this pandemic, be it fighting the virus or ensuring economic stability," said PM Modi.
"This resilience is driven by strength of our systems, support of our people and stability of our policies," he added.
Talking about his ambitious Atma Nirbhar Bharat plan, PM Modi said that India's quest to become self-reliant is not just a vision, but a well-planned economic strategy that aims to use the capabilities of our businesses and skills of our workers to make India into a global manufacturing powerhouse. This strategy is also meant to use India's technological capabilities to become a centre of innovation, said the Prime Minister, adding that it will contribute to global development by putting to use the country's immense human resources and their talents.
"Today, investors are moving towards companies which have a high environmental, social and governance core. India already has systems and companies which rank high on this," said the PM. "India offers you democracy, demography, demand as well as diversity such as our diversity that you get multiple markets within one market. This comes with multiple pocket sizes and multiple preferences, multiple weathers and multiple levels of development. This diversity also comes with open minds and open markets in a democratic, inclusive and a law abiding system."
PM Modi went on to list reforms regarding income tax, Goods and Services Tax, labour laws, production-linked incentives, agriculture and more avenues that investors can benefit from. He further said that India's strategy towards financial sector has also been holistic.
"India's growth has the potential to catalyse global economic resurgence. Any development in India will have a multiplier effect on world's development and welfare," said PM Modi.