Modi invited US companies to invest in India’s healthcare, infrastructure, defence, energy, farm and insurance sectors
NEW DELHI| Highlighting India’s contribution in moving towards a resilient world with ‘Atmanirbhar Bharat’, Prime Minister Narendra Modi on Wednesday told the United State that it can trust the country with trade.
The statement could be seen as a subtle attack on China, which is presently one of the dominant countries in the world market. Earlier in the day, US Secretary of State Mike Pompeo had dubbed the Chinese Communist Party is a “mutual threat”.
PM Modi said at the Virtual summit being hosted by the US-India Business Council, “The recent experience has taught us that the global economy has been too focused on efficiency and optimization. Efficiency is a good thing. But, on the way, we forgot to focus on something equally important. That is resilience against external shocks. Global economic resilience can be achieved by stronger domestic economic capacities. India is contributing towards a prosperous and resilient world through the clarion call of an ‘Atmanirbhar Bharat’. And, for that, we await your partnership.”
Modi invited US companies to invest in India’s healthcare, infrastructure, defence, energy, farm and insurance sectors, saying the country offers openness, opportunities and options for investments.
PM Modi said, “Today, there is global optimism towards India. This is because India offers a perfect combination of openness, opportunities and options. Let me elaborate. India celebrates openness in people and in governance.”
PM Modi said the coronavirus pandemic has shown the importance of economic resilience, which can be achieved by stronger domestic economic capacities. “This means improved domestic capacity for manufacturing, restoring the health of the financial system and diversification of international trade.”
Modi said, “India is emerging as a land of opportunities. Let me give you one example of the tech sector. Recently, an interesting report came out in India. It said for the first time ever, there are more rural internet users than even urban internet users.” Stating that open markets mean more opportunities, Modi said during the last six years the government has made many efforts to make the Indian economy more open and reform-oriented.
Reforms have ensured increased competitiveness, transparency, digitisation, innovation and policy stability, the Prime Minister said.