India presents massive growth opportunities in various sectors such as defence, agriculture, MSMEs and sunrise industries, and the country has laid a red carpet for global investors, Prime Minister Narendra Modi said at India Global Week 2020 event on Thursday. Wooing global companies, he also said that India, which is the third-largest economy in Asia, is also one of the most open economies in the world with it offering investment friendly, competitive business environment and immense opportunities. “India remains one of the most open economies in the world. 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,” he said.
The government has been trying to attract foreign investments at a time when major alarm bells are ringing for economy due to the coronavirus pandemic. In fact, reviving the economy remains the topmost priority of the government. “We are making the economy more productive, investment-friendly and competitive,” the Prime Minister said, adding that there are many possibilities and opportunities in various sunrise sectors in India. He also listed recent reforms in agriculture, defence and space sectors will likely help the country secure global capital. Especially in the agriculture sector, the recent reforms provide a very attractive investment opportunity for investing in storage and logistics, PM Modi said. “We are opening the doors to investors to come and invest directly.”
During the coronavirus pandemic, the government had announced a Rs 21 lakh crore economic package to help various sectors tide over the crisis. MSME sector was also one of the beneficiaries of the economic relief package and this will complement big industries, PM said at the event. The three-day long event will be attended by various ministers and foreign dignitaries. Meanwhile, speaking about economic revival, PM Modi said that India will play a crucial role in the global economic recovery and the country has started to see green shoots of economic revival.