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WEF 2018: India has opened new door of FDI; come invest in my country, says PM Modi at Davos

Prime Minister Narendra Modi during his keynote address at the WEF 2018 on Tuesday delivered a strong message to the world by calling for unity against protectionism and invited global companies to invest in India.

twitter-logo BusinessToday.in   New Delhi     Last Updated: January 24, 2018  | 09:58 IST
WEF 2018: India has opened new door of FDI; come invest in my country, says PM Modi at Davos

Prime Minister Narendra Modi during his keynote address at the WEF 2018 on Tuesday delivered a strong message to the world by calling for unity against protectionism and invited global companies to invest in India. He said due to the structural reforms carried out by the current government, India has opened a "new door of the FDI". He assured the CEOs and the leaders of world powers that India was ready to take on any challenges like protectionism and terrorism. Here are some key takeaways from Prime Minister Narendra Modi's pitch for 'Make in India'.

Assures companies of smooth policies
PM Modi said India has no indirect motives, and that it works in close coordination with partner countries without any agenda, indirectly hitting out at China's policies in Indian sub-continent. Slamming the protectionist policies adopted by many developed countries, Modi said they need to change their self-centered way. He even compared the problem of protectionism with climate change and terrorism. "We are facing a big obstacle in terms of countries turning self-centered. Many countries who preach globalisation have chosen to remain self-centered. This is equal to terror and climate change, and the sheen of globalisation is slowly fading," said PM Modi.

India at cusp of major social change
The Prime Minister said: "We are not only doing small changes in our economic and social policies but are bringing revolutionary changes by adopting a policy of reform, perform and transform." Boasting how the government has made it easy to invest in the country, the PM said due to our simple policies for investment, "it is now very easy to invest, visit, work, manufacture and export your product to all corners of the world from our country". "The Indian youths were earlier tied due to poor policies. But now situation has changed, and in three years big changes have happened in India. Now Indian youths are eyeing  for $5 trillain economy by 2025, and they are capable in doing this," said the PM.

From red tape to red-carpet nation
Assuring India has completely shed its conservative working policy and that anyone could invest in India without facing much bureaucratic hurdles, Modi told the gathering "my country has now changed from a red tape to a red-carpet nation.  The PM said that to improve major political, economic and security issues of the world, there's a need for strong coordination between likeminded nations. "There's a strong need to speed up global economic growth. Current results are encouraging but technology and digital revolution can help find out answers to these problems." The PM concluded his speech with a passionate call for investment by stating that "if you want wealth and wellness, come to India. If you want health and wellness, come to India. India will always welcome you."  

Investment opportunities in solar power
The Prime Minister Modi drove the people's attention towards the problem of climate change by showing India's progress on the initiative. He said the real solution of problems lie in first accepting them and then finding solutions by working together. "We have to ask if economic progress at the cost of environment degradation is the real progress. Why are we not thinking about these challenges? In India, we have set a target to produce 175gigawatt renewable energy production by 2022. Total 60gigawatt of the desired target has already been achieved."  The Prime Minister said India and France united in 2016 to make an organisation to tackle the solar energy production challenges and formed the International Solar Alliance. "This year, France President Emmanuel Macron and the other alliance leaders would come to India to take part in its first international meet," he said.

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