Modi invites Canadian biz houses to invest in India

Prime Minister Narendra Modi on Thursday hard sold his government's latest labour and agriculture reforms, saying they will make doing business in India easier as also give farmers the right to choose their market.

With its vibrant democracy, political stability and business-friendly policies, India offers an unparalleled investment destination for foreign investors, he said in his keynote address at the annual Invest India Conference.

The conference is organised with a special focus on further strengthening business ties between India and Canada.

The government, he said, has implemented reforms in key sectors of education, agriculture, and labour with a view to improving participation of the private sector.

“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,” Modi said.

Stressing that “the India story is strong today and will be stronger tomorrow”, Modi said: “We are proactively monetising assets across sectors — airports, railways, highways, power transmission lines.” He said the FDI regime had been very well liberalised and the country has created a friendly tax regime for sovereign wealth and pension funds.

Referring to the coronavirus pandemic, Modi said: “India has adopted a unique approach posed by the Covid-19 pandemic. We have given relief and stimulus package for the poor and the small businesses. We have also used this opportunity to undertake structural reforms. These reforms ensure more productivity and prosperity.”

“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 AGRI, THE PLACE TO BE IS INDIA”