PM Modi invites foreign investors, assures global companies of structural reforms

NEW DELHI: Prime Minister Narendra Modi on Thursday rolled out a red carpet for foreign investors in India, reiterating his government’s ability to carry out deep structural reforms.

“India remains one of the most open economies of 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 opportunity that India does today," Modi said speaking at the India Global Week virtual conference.

Modi said there are possibilities and opportunities in various sunrise sectors in India. “Our reforms in agriculture provides a very active investment opportunity to invest in storage and logistics. We are opening the doors to the investors to come and invest directly in the hard work of our farmers," he said.

The government has brought reforms in the MSME sector that will complement big industries, Modi said. "There are investment opportunities in the defence sector. With relaxed FDI norms, one of the world’s biggest militaries invites you to come and make products for it."

With more opportunities for investment in the private sector, there is greater access to commercial use of space



tech for the benefit of people, he said. "India’s tech and startup sector are vibrant. There is a market of millions of digitally empowered people. Imagine, the kind of products we can make for them," he added.

Portraying the Atma Nirbhar Bharat campaign as a people’s movement, Modi said 130 crore Indians have given a call for self-reliance. A self-reliant India merges domestic production and consumption with global supply chains. "Atma Nirbhar Bharat is not about self-contained or being close to the world. It is about being self-sustaining and self-generating. We will pursue policies that promote efficiency, equity and resilience."