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Saturday, October 24, 2020

PM Modi addresses Invest India Conference in Canada: Key points | India News

NEW DELHI: Prime Minister Narendra Modi on Thursday virtually delivered the keynote address at the Invest India Conference in Canada. The forum aims to give Canadian business community a first-hand perspective of the opportunities to invest in India and showcase India as an investment destination.
Here are the key points from PM Modi’s address:
* There is one thing common to most people in the audience. It has people who take investment decisions. I want to ask you: What do you think about before investing in a country? 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.
* India-Canada bilateral ties are driven by our shared democratic values and many common interests. The trade and investment linkages between us are integral to our multifaceted relationship.
* Canada is home to some of the largest & most experienced infrastructure investors. Canadian Pension Funds were the first ones to start investing in India. Many of them have already discovered great opportunities in a range of areas like highways, airports, logistics.
* 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.
* India is playing the role of the pharmacy to 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.

* If you are looking to partner in the field of education, the place to be is India. If you are looking to invest in manufacturing or services, the place to be is India. If you are looking to collaborate in the field of agriculture, the place to be is India.
* India has undertaken a trinity of reforms in the field of education, labour and agriculture.
* India has ensured reforms in the field of labour and agriculture. They ensure greater participation of the private sector while strengthening the government’s safety nets. These reforms will lead to a win-win situation for entrepreneurs as well as hard-working people.
* The reforms in the field of education will further harness the talent of our youth. These reforms have also set the stage for more foreign universities to be able to come to India.
* The reforms in labour laws greatly reduce the number of Labour codes. They are both employee and employer-friendly and will further increase ease of doing business.
* The reforms in the field of agriculture are far-reaching. They will not only give more choice to farmers but will boost exports.
* 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.
* We are proactively monetizing assets across sectors- Airports, Railways, Highways, Power Transmission lines, etc. Real Estate Investment Trusts (REIT) & Infrastructure Investment Trusts (InvITs) have been fully enabled to for monetization of assets.



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