India has vibrant democracy, political stability, skilled talent pool: PM Modi’s pitch to Canadian investors
India is playing the role of the world’s pharmacy, Prime Minister Narendra Modi said on Thursday. He was delivering the keynote address via video-conferencing at the Invest India Conference in Canada.
An annual event, the Invest India Conference in Canada is held with an aim to strengthen business ties between the two countries. This time around, the event was organised virtually in light of the Covid-19 outbreak.
During his keynote address, PM Modi highlighted India’s decision to supply medicine to around 150 countries amid the ongoing pandemic. He went on to add that India overcame problems related to manufacturing, supply chains and availability of PPE etc.
He also stated that India has liberalised its FDI norms and bond market while creating a friendly tax structure for Pension Funds and Sovereign Wealth.
“Today, India is undergoing a rapid change in mindsets and markets” by deregulation and decriminalisation of multiple offences listed under the Companies Act, Prime Minister Narendra Modi said during his address. He further stated that India is proactively monetising assets such as railways, real investment trusts, airports, and power transmission lines among others.
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.
— PMO India (@PMOIndia October 8, 2020
While inviting entrepreneurs to invest in India’s agriculture sector, he said that reforms that have been undertaken in the field of education, labour and agriculture “impact almost every Indian”. The PM also mentioned how small and medium businesses in India have been supported by relief and stimulus packages. India has also used this opportunity to bring in structural reforms, he added.
“The reforms in labour laws greatly reduce the number of labour codes. They are both employee and employer-friendly and will further increase the 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 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,” PM Modi said on Thursday.
Referring to India-Canada bilateral ties, the PM said that both countries share democratic values and common interests. “Canadian Pension Funds were the first ones to start investing in India,” Prime Minister Narendra Modi said adding that Canada is home to some of the largest and most experienced infrastructure investors who have already discovered great opportunities in India.