India is a land of opportunity and a trusted partner in global supply chains: Mr. Piyush Goyal

Mr. Piyush Goyal, Union Minister for Commerce and Industry, Consumer Affairs, Food, and Public Distribution, and Textiles, while addressing the diaspora and members of the Indian-American community, said that India is a land of opportunities and can be a trusted partner for global and American corporations in their supply chains and investment policies.

He said that today India is a land of opportunities and, the country is inviting the diaspora to make it a great superpower. He further added that he is confident that the country’s diaspora will be contributing to take India back to the old glory that it had a few 100 years ago. He also highlighted that India has quickly picked up after the lockdown and economic stress post-pandemic and that the last year witnessed growth in all spheres. It was stated that India’s exports crossed US$ 670 billion for the first time in the country’s history and the foreign direct investment (FDI) was also at an all-time high with around US$ 84 billion FDI inflows in 2021-22.

Mr. Piyush Goyal mentioned that investments in India get one of the finest returns and nearly one out of four companies on the top 500 companies on the Indian stock exchange have given a 20% plus compounded return to investors. He said that several steps have been taken to ensure ease of doing business in India and ease of living. In addition to it, he noted that under India's G20 presidency this year, the country is demonstrating its abilities and contributions to the world as it would be seen in the next 25 years.

He asked the diaspora to strengthen India, buy India-made products, present India’s investment opportunity to the investors in the US and contribute to India’s growth story through a greater degree of philanthropy and knowledge transfer. The Indian diaspora holds the Indian flag high and continues to act as the living bridge between India and the US, the minister added.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.