Goyal to NRIs: invest in India unhesitatingly

Union Minister Piyush Goyal. (File Photo- PIB)

Dubai: Union Minister of Commerce & Industry 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 on October 3, 2021, 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 Goyal.

“In the 75 weeks of ‘Azadi Ka Amrit Mahotsav’, we aim at taking the number of unicorns to 75 in the country. 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.

Stating that India and the UAE are going to celebrate the 50th anniversary of establishment of diplomatic relationship next year, Goyal said this is a good opportunity to take our ties to the next level.

India is celebrating ‘Azadi Ka Amrut Mahotsav to commemorate 75 years of Independence. The UAE is also celebrating this year as the ‘Year of 50’ to commemorate the declaration of the Union in 1971.

Goyal said that the ‘Projects of the 50’ of the UAE & Prime Minister Narendra Modi’s vision of ‘Aatmanirbhar Bharat’ reflect the statesmanship of our leaders.

“India is focusing on fulfilling its aspirations in next 25 years to celebrate the Centenary of its Independence in a grand way, while UAE leadership is planning their journey for the next 50 years.”

The Minister underlined that the 3.4 million strong Indian diaspora in the UAE acts as a bridge between the two countries.

Goyal is in the UAE to inaugurate the India Pavilion at Dubai Expo. The official visit is being seen as major step towards boosting Indo – UAE Strategic Partnership and taking trade and investment between to unprecedented levels. The ongoing Expo is India’s window to the world, An opportunity to showcase India’s capability & potential. (Press Release)

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