PM Narendra Modi invited foreign investors to invest in new opportunities

News
Jul 23 2020 09:38 AM
Vinod Rathore

New Delhi: PM Modi, while addressing India Ideas Summit, invited investors to invest in India. He has shown opportunities for investment in other sectors including health, defense, and energy. During this, he told that India is emerging as a land of opportunities. Giving the example of the tech sector, he said that a few days ago, an interesting report came out in India, in which it was told that for the first time, rural Internet users are more than urban internet users. He says that opportunities in technology mean that getting chance in 5G technology, big data analytics, quantum computing, blockchain and Internet of Things.

Drawing the attention of investors on the health and defense sector, the Prime Minister said that India is inviting you to invest in healthcare. The healthcare sector in India is growing more than 22 percent every year. Our companies are also in progress in medical technology, telemedicine and diagnosis. India invites you to invest in defense and space. We are increasing the FDI cap to 74% for investment in defense sector.

Invitation for investment in the energy sector: On the energy sector, Prime Minister Modi said during this time, 'India is inviting you to invest in the energy sector because India is going to develop into a gas-based economy. Large investment opportunities are being created for American companies. There are also opportunities in clean energy. This is the best time to enter India's power sector. Apart from this, he said that India is inviting you to invest in finance and insurance. India has raised the FDI cap to 49% for investment in insurance. Now 100% FDI is allowed for investment in insurance intermediaries.

A lot of development opportunities in the civil aviation sector too: On the civil aviation sector, Prime Minister Modi said that there is a big opportunity for development in this area too. The number of air passengers is expected to more than double within the coming 8 years. Top Private Indian Airlines plans to include more than 1 thousand new aircraft in the coming decade.