(MENAFN- KNN India)
New Delhi, Nov 22 (KNN) Union Minister Ashwini Vaishnaw extended a warm invitation to German businesses, emphasising India's Political and economic stability as well as its vast investment opportunities.
Speaking at the TV9 Global Summit in Stuttgart on Thursday evening, the minister highlighted India's robust growth trajectory and competitive advantages, positioning it as a key player in the global economy.
“India is growing steadily at 6-8 percent and is poised to maintain this momentum for years to come. I encourage you to include India in your supply chain,” Vaishnaw said, pointing to the country's expansive talent pool and over 1,800 global capability centres that span virtually every sector.
The minister described India's fiscal health as exemplary, with debt levels at 57 percent of GDP, significantly lower than those of other large economies.“This success is no coincidence; it reflects a clear strategy and meticulous execution,” he remarked, underscoring the government's achievements.
Vaishnaw elaborated on the four pillars driving India's economic strategy: public investment in infrastructure, inclusive growth programs, a focus on manufacturing and innovation, and the simplification of legal and compliance frameworks.
These pillars, he noted, have enabled the government led by Prime Minister Narendra Modi to repeal over 1,500 outdated laws and streamline 40,000 compliance requirements, aligning with its vision of“minimum government, maximum governance.”
Highlighting India's advancements in the digital domain, the minister pointed to recent legislative reforms such as the Digital Personal Data Protection Act and the Telecom Act, which provide a transparent regulatory framework for the burgeoning digital economy.
“Good economics can make good politics,” Vaishnaw stated, noting that India's consistent reforms have helped it weather global democratic and economic turmoil, reinforcing its position as a trusted partner for international investments.
With steady growth, sound fiscal policies, and a commitment to innovation, India emerges as a beacon of opportunity for global investors, particularly in Europe, as it solidifies its place in the global supply chain.
(KNN Bureau)
MENAFN22112024000155011030ID1108914065
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.