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No better place than India to invest: finance minister

Oct '19
Pic: Shutterstock
Pic: Shutterstock
Stating that there can be no better place than India to invest, finance minister Nirmala Sitharaman recently told global investors that her democracy-loving country offers an environment respecting capitalism and the government is continuously working to bring in reforms. She was speaking at the International Monetary Fund (IMF) headquarters in Washington DC.

“It (India) is one of the fastest growing (economies) even today. It has the best skilled manpower and a government that is continuously doing what is required in the name of reforms, above all democracy and rule of law,” Sitharaman said yesterday.

Even if India’s judicial system is a bit delayed, it is a transparent and open society, the rule of law works and many reforms are under way to cut down such delays, she said.

The event was hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI) in association with the US India Strategic and Partnership Forum, according to a news agency report.

As representatives from major insurance companies urged her to remove the cap on investment in this sector, she replied that the government needs to understand what the expectations of the sector are other than removing the cap. Without offering any assurance, Sitharaman urged them to send her the details.

Denying any trust deficit with the corporate sector and investors, she said there is a greater understanding that the Indian government is willing to hear and also wanting to respond.

Fibre2Fashion News Desk (DS)

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November 2019

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