NEW DELHI: Making a strong pitch to US investors, PM
said India represents rising trade opportunities with a nation that can be trusted and which offers access to a market that has scale and availability of skilled human resources.
The PM’s remarks at the India-US business summit Wednesday, read in the context of current anxieties over supply chains based in China, were a clear bid to position India as a safer and more reliable trade partner and destination.
“US-India friendship has scaled heights. It’s time our partnership plays a key role in helping the world bounce back faster after the pandemic. US investors often look out for the perfect ti ming to enter a sector or country. To them, I would say: there has never been a better time to invest in India,” Modi said.
Looking to position India as a welcoming destination, Modi said areas like finance, insurance, defence and space offered big opportunities. He said 100% FDI was allowed and big schemes like
and crop insurance had increased acceptance of insurance products and the sector could grow to $250 billion by 2025.
The PM said the health sector was growing at 22% and there were more rural internet users than urban. “There are over half a billion more people who are being connected. Opportunities in technology also include op portunities in the frontier technologies of 5G, big data analytics, quantum computing, block-chain and internet of things,” he added.
Pointing to synergies that could be seen to contrast with China, Modi said, “India offers a perfect combination of openness, opportunities and options. Let me elaborate. India celebrates openness in people and in governance. Open minds make open markets… These are principles on w