New Delhi: Commerce and Industry Minister Piyush Goyal on Saturday, urged the Indian Diaspora in the United States to promote India as a prime investment hub. He emphasized the numerous opportunities available across various sectors in the country.
The minister outlined several initiatives the government has undertaken to enhance the investment climate in India. These include improving ease of doing business, easing compliance requirements, and opening new sectors such as space for foreign direct investment.
The minister encouraged the Diaspora to play a role in India's vision of becoming a developed nation by 2047. He highlighted the recent surge in NRI deposits, which rose to USD 3 billion between April and May, a fourfold increase from the previous year. Goyal expressed confidence that many investors would be interested in the Indian stock market, bond market, banking sector, and fixed deposits, depending on their risk tolerance.
While acknowledging that the US currently offers attractive investment opportunities due to high interest rates, Goyal assured that India holds immense potential for future business ventures.
"I invite you to invest in India. The country’s growth trajectory remains robust, and India is set to continue leading the global economy. It remains the top choice for investment and manufacturing," Goyal stated during his virtual engagement with the US-based Indian community.
Regarding clean energy, Goyal shared that India is implementing the world’s largest renewable energy program, targeting 500 GW. The country already has 200 GW in place and is expanding its capacity. He suggested that the upcoming budget announcement might include additional sustainability measures.
Addressing concerns about social media misinformation during elections, Goyal acknowledged the need for continuous learning and adaptation. He assured that the government is actively working to address evolving dynamics and improve election processes.
On judicial reforms, Goyal described the issue as complex. He noted that while there is broad support for reform, actual changes are often resisted. He remains optimistic that the judiciary will undergo necessary reforms to address case backlogs and expedite justice delivery.
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