Minister Calls Upon Indian Diaspora in UAE to Invest in India

NEW DELHI: Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Piyush Goyal has called upon the NRIs and Indian diaspora to invest in India unhesitatingly.

Addressing the Indian People’s Forum (IPF) Business Conclave in Dubai today, Mr. Goyal said this is the right time for India’s vast expatriate community to invest in their motherland. There is a great opportunity in extraordinary growth in India.

“Under Prime Minister Modi we are seeing rise in economic indicators despite the pandemic. Merchandise exports in Apr-Sep’21 touched $197.11 bn, recording 23.8% growth over Apr-Sep’19. Manufacturing PMI average improved to 53.8 (Q2) from 51.5 (Q1) while GST collections have hit a 5-month high in September,” he said.

Goyal said the Government has taken many steps to create conducive business environment. “From red-tapism to laying the red carpet for businesses, India under Prime Minister Modi has come a long way. As a result, India climbed up in Ease of Doing Business ranking from 130 to 63 in just 5 years and also jumped to 46th spot on the Global Innovation Index (GII), a jump of 35 places in last 6 years. Steps in last 7 years helped us nurture world’s 3rd largest startup ecosystem,” said Shri Goyal.

“In the 75 weeks of ‘Azadi Ka Amrit Mahotsav’, we aim at taking the number of unicorns to 75 in the country. Similarly, India received the highest ever FDI inflow of around $ 82 billion in 2020-21 (during peak of pandemic), up 10% over 2019-20 (pre-pandemic time). Total FDI inflow of US$ 22.5 bn during Q1 of current fiscal is 90% higher compared to US$ 11.8 bn during the corresponding period last year,” he added.