August 15, 2020

‘India awaits you all’: PM Modi says ‘doors are open’ for companies across the world to invest

The three-day forum is expected to be attended by 5,000 participants from over 30 countries and will focus on India’s trade and foreign investment prospects, as well as the global economic revival.

In his inaugural speech, Modi said: “India remains one of the most open economies in the world. We are laying a red carpet for all global companies to come and establish their presence in India. Very few countries will offer the kind of opportunities India does today.” He added: “India awaits you all.”

The Indian leader praised his government’s response to the Covid-19 pandemic and the economic measures taken as “smart” and “well-targeted.”

“No wonder that in India, we are already seeing green shoots when it comes to economic recovery,” he said.

Modi also pointed out the massive efforts by Indian pharmaceutical companies to aid in the development and production of a coronavirus vaccine.

Also on India’s economy will see strong recovery next year – SP

READ MORE: World’s fifth-largest foreign exchange reserves provide India with cushion against economic shock

The number of infections in the country has risen sharply since India eased the nationwide lockdown. It is currently the third worst-hit nation by the pandemic, with more than 771,000 cases. As the numbers grow, some of India’s regions are considering reintroducing restrictions.

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