'Come, Invest in India', PM Modi invites the Globe at WEF!

New Delhi, January 29: "Atmanirbhar Bharat Abhiyan is committed towards global good and global supply chain. India has the capacity, capability and reliability to strengthen the global supply chain", PM Modi said while addressing the World Economic Forum's (WEF) online Davos Agenda Summit via video conference. He also spoke on a wide range of subjects, including India's reform trajector, increased usage of technology and the coronavirus pandemic's situation in the country.

 

The Davos Dialogues agenda marks the launch of the World Economic Forum's great reset initiative in the post-COVID-19 world. The ongoing online summit has been addressed so far by Chinese President Xi Jinping, German Chancellor Angela Merkel, Russian President Vladimir Putin, French President Emmanuel Macron and Israeli Premier Benjamin Netanyahu, among other global leaders.

 

 

 

-Work is in progress for a strict law on data protection in the country. We are promoting the investment in frontier technologies like AI, additive manufacturing, and interdisciplinary cyber-physical systems.

 

- We believe in opening all the sectors for market participation. Take the example of UPI. Transactions at UPI platform have crossed 2 billion per month. A major portion of these transactions are taking place through the apps developed by private players.

 

- PM said digital lending platforms can help MSMEs get access to credit. 3 lakh common service centres in the country are giving digital services in villages. 6 lakh villages will be connected by fiber internet in the next few years, he added.

 

- I invite all investors to participate in the various PLI schemes, offering production linked incentives of 5%. PLI scheme will lead to production of $520 billion, PM Modi added.

 

 

 

- By 2040, India's infra needs will be around $4.5 trillion. This target will be achieved by both government and the industry. Govt is working tirelessly to provide an enabling environment: PM Modi.

 

- Several points have been decriminalised in Company Law. To raise competitiveness, connectivity infrastructure is being strengthened. During pandemic we saw that Indian companies are capable of tackling supply shock, they maintained medical supply in India and across the world, said PM.

 

- Government has continuously taken several majors steps to boost manufacturing in India. Corporate Tax brought down to 15% for new manufacturing units. GST rates have been reduced. Through GST & Faceless Assessment tax structure has been simplified. Labour laws have been reformed, PM said.

 

- India launched 'Aatmanirbhar Bharat Abhiyan' with the resolve of increasing the capacity of our economy. India made one reform after the other to provide a high growth trajectory to economy in this decade. These reforms were long-awaited, PM Modi added.

 

PM Modi meanwhile sent a message of faith, positivity and hope from more than 1.3 billion Indians to the world, as he discussed India's response to the Covid-19 pandemic. "India is saving the lives of people in many other countries of the world by sending COVID vaccines and developing the necessary infrastructure for the vaccination. In these tough times, India has been undertaking its global responsibility from the beginning. When airspace was closed in many countries, India took more than 1 lakh citizens to their countries and delivered essential medicines to more than 150 countries", he said.