Prime Minister Narendra Modi delivered the keynote address at the Annual Invest India Conference in Canada on Thursday. The conference is organised with a special focus on further strengthening business ties between India and Canada.
The forum aims to give Canadian business community a first-hand perspective of the opportunities to invest in India and showcase India as an investment destination.
The Conference is expected to witness participation of representatives from banks and insurance companies, investment funds, companies in sectors like aviation, electronics and manufacturing, consultant firms, universities etc.
Here are the HIGHLIGHTS of PM Modi's address at Invest India Conference:
- There is one thing common to most people in the audience. It has people who take investment decisions. I want to ask you: What do you think about before investing in a country?
- In the post-Covid world, you will often hear of various kinds of problems. The problems of manufacturing, problems of supply chains, problems of PPE, etc. However, India has not let those problems be. We showed resilience and emerged as a land of solutions.
- India is playing the role of the pharmacy to the world. We have provided medicine to around 150 countries so far. During March-June of this year, our agricultural exports rose by 23%. This happened while the entire country was in a stringent lockdown.
- The India story is strong today and stronger tomorrow. Today, the FDI regime has been very well liberalized. We have created a friendly tax regime for Sovereign Wealth and Pension Funds. We have undertaken significant reforms for developing a robust Bond market.
- We are proactively monetizing assets across sectors- Airports, Railways, Highways, Power Transmission lines, etc. Real Estate Investment Trusts (REIT) & Infrastructure Investment Trusts (InvITs) have been fully enabled to for monetization of assets.
- Today, India is undergoing a rapid change in mindsets as well as markets. Today, India has embarked on a journey of deregulation and decriminalisation of various offences under the companies act.
- India has adopted a unique approach posed by the Covid-19 pandemic. We have given relief & stimulus package for the poor and the small businesses. We have also used this opportunity to undertake structural reforms. These reforms ensure more productivity and prosperity.
- India has undertaken a trinity of reforms in the field of education, labour and agriculture. Together, they impact almost every Indian.
- India has ensured reforms in the field of labour and agriculture. They ensure greater participation of the private sector while strengthening the government's safety nets. These reforms will lead to a win-win situation for entrepreneurs as well as hard-working people.
- India-Canada bilateral ties are driven by our shared democratic values and many common interests. The trade and investment linkages between us are integral to our multi-faceted relationship.
- Canada is home to some of the largest & most experienced infrastructure investors. Canadian Pension Funds were the 1st ones to start investing in India. Many of them have already discovered great opportunities in a range of areas like highways, airports, logistics.