"India already seeing Green Shoots of Economic recovery": PM

Mangalore Today News Network / NDTV

New Delhi, July 09, 2020:    Prime Minister Narendra Modi today invited the world to invest in India, saying the economy here is already "putting up green shoots of recovery". Addressing the inaugural event at the India Global Week 2020 -- pitched as one of the biggest international events on India’s globalization -- the Prime Minister said, "We are rolling out 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".

 

The three-day virtual event -- themed "Be The Revival: India and a Better New World" --- is expected to discuss ways to boost the world economy which sustained a huge hit following the lockdown induced by the coronavirus pandemic.

Inviting the 5,000-plus delegates of the event to invest in India anywhere from agriculture sector to defence and space industry, he said, "Indians have the spirit to achieve what is believed to be impossible... India is ready to do whatever it can to further global good and prosperity.  This is an India that is reforming, performing and transforming".

Over the last six years, he said India has made great gains in areas such as "total financial inclusion, record housing and infra construction, ease of doing business, bold tax reforms including the Goods and Services Tax".

Reforms have been made in the sector of Micro, Small and Medium Enterprises, which will complement big industry, the Prime Minister pointed out, highlighting the recent loan initiative to boost the flagging MSME sector, which has been hit hard by the lockdown.

"There are investment opportunities in the defence sector… Now, there are more opportunities for private investment in space sector. This will mean greater access to commercial use of space technology for the benefit of people," he said.