Trust, talent attracting investors to India: Union Minister Ashwini Vaishnaw

Union Minister Ashwini Vaishnaw has said trust and talent are the two most important factors attracting the world to India. Talking to the media at the World Economic Forum at Davos in Switzerland, Mr Vaishnaw said, despite all the disruption and issues the world is facing at present, India has emerged as a very trusted country that respects intellectual property rights. He said, India has clearly demonstrated to the world that, under all circumstances, it is a country that believes in peace, growth for everybody, and inclusive development.

     

The Minister said, global companies are very enthused about India, with existing players planning to scale up and several new ones wanting to set shop in the country. He said, investors are showing interest in multiple sectors, including technology, semiconductors, Artificial intelligence (AI), electronics manufacturing, research, and design. 

The Minister for Railways, Information and Broadcasting, and Electronics and Information Technology added that many new semiconductor players have also shown their interest while his ministry has also taken up the task of making new chipsets, which will be designed and fabricated in India and would be of use for multiple sectors. Mr Vaishnaw also said, India is set for a leadership role in the area of artificial intelligence.

 



  

Replying to a question on the free trade agreement with Switzerland, Mr. Vaishnaw said, India and Switzerland have been important strategic partners for decades. He added that both nations share many common values of democracy, mutual trust, and peace. The Minister noted that the free trade agreement that both countries signed is, in a sense, a progression of those sentiments and values.

  

On a question related to the impact on the Indian economy under the Trump administration in the United States, Mr. Vaishnaw said, the India-US relationship has evolved maturely over the last 10 years. He said, both countries are co-developing many technologies and co-creating many products. The Minister added that India is a part of the QUAD, where they share common interests in the security of the world. He said the relationship of trust between the US and India will really help the growth of both countries.       

The five-day World Economic Forum Annual Meeting in Davos ended yesterday. Union Minister Ashwini Vaishnaw, led the largest ever Indian delegation of Union ministers and several leaders from states including three chief ministers.  All states and central government departments shared space for the first time at two India Pavilions, putting up a unified ‘Team India’ face.