Andalib Akhter / New Delhi
Union Minister for Commerce and Industry Minister Piyush Goyal today said that there was a huge potential for business in India and expressed hope that the country looks forward to a lot more activity in international business and engagement.
Goyal said India will be the next investment global hotspot as it has the potential to attract an annual FDI in the range of $120- $160 billion by 2025. In the last seven years, India has seen a record FDI, and each year it is breaking the previous record for 7 years in a row, he said.
“And I do hope to see that continue, looking at the major structural reforms, the fact is that we have a proactive leader in Prime Minister Modi, willing to listen and willing to change with the changing times,” he said, addressing the 2nd edition of the CII National Conference on MNCs, via a video conference today.
Goyal said global sentiments have changed from ‘Why India?’ to ‘Why Not India!’, and today ‘We must be in India!’.
The Minister appreciated the contribution of Multi-National Corporations to the Indian Economy and hoped that this will continue to grow and expand. He dwelt on significant engagement in the field of capital, technology, and vision.
Mr. Goyal said decisions like privatization of Air India, removal of retrospective tax, reforms in the mining and coal sector, renewable energy growth story encourage us to look for a brighter future.
Minister said that new technologies and spirit of innovation adopted by MNCs will help in the future. He appealed to MNCs to use India as a manufacturing base. He said India is working towards integrating its standards to world standards. The Minister said the Government has taken several measures to bring reforms.
He said, National Single Window System, PM Gati Shakti, PLI schemes for manufacturing signal less government, more governance approach. He further adds India has attracted record foreign direct investments in the last seven years.