‘We are laying a red carpet for all global companies’
As the Indian economy sees a revival, global investors should invest in the world’s “most open economies,” Prime Minister Narendra Modi said on Thursday, “Indians have the spirit to achieve what is believed to be impossible. No wonder that in India, we are already seeing green shoots when it comes to economic recovery,” he observed at a ‘India Global Week’ conference, organised by the Londonbased NRI group Indian Inc. Modi’s call to investors “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 stated, listing the gains the country had made in “total financial inclusion, record housing and infra construction, Ease of Doing Business, bold tax reforms, including the GST”. Mr. Modi’s reference to “green shoots” or small signs of revival comes a few
days after the Ministry of Finance published its macroeconomic report for June 2020, which said activity had “picked up” in certain areas, even though the GDP growth estimates have plummeted further.
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