Addressing Virtual Global Investor Roundtable (VGIR) 2020 on Thursday, Modi pitched the idea of Atmanirbhar Bharat to top global investors, said it is not mere a mission and desire, it is a well-planned strategy, to combine our business capabilities and worker’s skills to make India global manufacturing house.
VGIR was organised by Ministry of Finance and National Investment and Infrastructure Fund (NIIF), the event was attended by top 20 global investors, from USA, Europe, Middle East, East Asia, and Australia.
VGIR was focused on India’s investment outlook, major industrial, agrarian and structural reforms carried out to achieve 5 trillion economy.
Modi urged investors to invest in India, since India offers tax incentives to manufacturers, one of the lowest corporate taxes.
In the event, Modi said “If you want returns with reliability, India is the place to be. If you want demand with democracy, India is the place to be. If you want stability with sustainability, India is the place to be. If you want growth with a green approach, India is the place to be,”
Further emphasising on India’s economic potential, he said, India can catalyse global economic resurgence from the pandemic hit economy, and India’s achievements will have multiplier impact on global development and welfare.
Along with other sectors, Modi categorically mentioned ambitious infrastructure plans, wherein his government plans to invest $1.5 trillion in Airports, ports, roads, and infrastructure projects.
Speaking about major reforms his government has carried recently, he said Agriculture sector has opened up new avenues for partnership and investment.
India offers demography, democracy, demand and diversity, he added.
Apart from Prime Minister Modi, India was represented by Finance Minister Nirmala Sitharaman, RBI governor Shaktikanta Das, and top business leaders including Uday Kotak, Mukesh Ambani and several others.
The event has come in right time, recent PMI and other indices are signalling faster economic recovery than anticipated, recently FICCI has also said, governments efforts to combat pandemic has worked, and it is for major economic reforms.