New Delhi: Union Minister for Railways, Commerce and Industry and Food and Public Distribution, Mr. Piyush Goyal invited foreign investors to be a part of India’s growth story. Addressing the inaugural session of CII’s Partnership Conference 2020 in a virtual way, he said that we are ready to welcome foreign investors on this earth of opportunity, by laying them on the red carpet and spreading their arms with open arms. Huh.
The Union Minister said that along with keeping the gates open for investors, the Government of India is preparing a systematic path for global investors for new sectors of their economy. At the same time, strategic partnerships with various investment partners are promoting the business and are engaged in strengthening the future of their economy plans. He said that the inflow of foreign direct investment into India has been steadily increasing.
FDI has increased in the first 9 months of this year, even during the peak of the Covid-19 epidemic. He said that our FDI policies are the most favorable FDI policies in the world. A total of $ 40 billion was invested in India between April and September, a 13% increase from the same period last year. He said that in the year 2019 we announced the most attractive tax rates which is nowhere in the world. We have declared a 22% rate for business carried out in India and a tax rate of 15% for production units to be set up in India after October, 2019.
Mr. Goyal said that to attract industries in India, several new schemes have been introduced, including production-linked incentive schemes. He informed that investment promotion departments have been formed in all our ministries. Central and state governments are working together to attract and encourage investment.
It was started before the epidemic. India is implementing various reforms and measures aimed at strengthening its economy and raising the level of productivity. India has initiated favorable measures and reforms to promote global participation in its economy on a large scale. He said that I would like to invite you to be a partner in the journey of development and prosperity of India in line with Prime Minister Shri Narendra Modi’s vision of a pleasant life for the people of India.
In keeping with the theme partnership of the conference, Shri Goyal said that this will help all of us in joint efforts to get our economies back on track, accelerate growth and encourage new opportunities. He said that our goal is not just to maintain a high level of growth continuously, but our goal is to make our economy a $ 5 trillion economy by 2025.
The reforms in different areas will help in shaping the country in good form and will also help in our efforts to improve the prosperity level of the people of the country. He said that India would not want to be deprived of the light of the sun which it has boon.
We believe that there will be new thinking and new opportunities in the new world of development. Alone we can be strong, but together we can achieve a place that would be unthinkable. Today is the time when you should be in India, the time when your investment should be in India. India is the land of opportunities.