India undergoing rapid change in mindsets as well as markets: PM Modi’s pitch to Candian businessmen
Prime Minister Narendra Modi on Oct 8 made a strong pitch to the Canadian business community for investments in India citing the country’s ‘tax-friendly regime’ as he delivered the keynote at Invest India Conference in Canada.
During the virtual address, aimed to provide a first-hand perspective of the opportunities to invest in India and showcase India as an investment destination, PM Modi stressed on how India emerged as a land of solutions even during the Covid-19 pandemic.
Asking what does the business community looks for before investing in a country, the Indian PM highlighted: “Does the country have a vibrant democracy? Does the country have political stability? Does the country have investment & business-friendly policies? Does the country have a skilled talent pool? The undisputed answer to all these questions is one: India.”
Modi said India emerged as a land of solutions even in this pandemic situation.
“In the post-Covid world, you will often hear of various kinds of problems. Problems of manufacturing, problems of supply chains, problems of PPE, etc. However, India has not let those problems be. We showed resilience and emerged as a land of solutions,” said the PM.
He said that India is playing the role of the pharmacy in the world.
“We have provided medicine to around 150 countries so far. During March-June of this year, our agricultural exports rose by 23%. This happened while the entire country was in a stringent lockdown,” Modi said.
Speaking about the tax policy, PM Modi said: “The India story is strong today and stronger tomorrow. Today, the FDI regime has been very well liberalized. We have created a friendly tax regime for Sovereign Wealth and Pension Funds. We have undertaken significant reforms for developing a robust Bond market,” he said.