Monday, May 27, 2024
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India getting large investment flows, says Finance Minister

Finance Minister Nirmala Sitharaman said that large amount of investment flows are coming to India among emerging markets as firms are looking beyond China-plus-one strategy and nudged for a guidance from the US to businesses to share technology with Indian partners without any insecurity so that a vigorous global value chain can be created.

She further said, “If there is a broad guidance for businesses, for investors and for technology leaders to look at India favourably because you have a plethora of leaders, all of whom have contributed to the US.. It is not as if you will completely outsource your businesses to India but locating it here, you get good skilled manpower, it’s cost effective. This is the time for guidance given to business to come to India without hesitation to transfer certain technology to joint venture partners so that they can do such businesses where you won’t have any sense of insecurity on technology and technology related issues.”

While pointing to global challenges, the FM acknowledged that India is not insulted to global developments but suggested that steps taken by the government will help steer the economy better. The minister said that political stability, good returns and a strong economy with a robust platform to deliver public services through the digital mode had made India an attractive destination and added that the government remained committed to reforms.

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