India best place for long-term investment: PM to global investors
Soliciting global investments, Prime Minister Narendra Modi on Thursday said India is the best place for generating long-term returns.
Addressing the Virtual Global Investor Roundtable (VGIR) 2020, he said the country has one of the lowest corporate tax rates in the world.
"If you want returns with reliability, India is the place to be. If you want demand with democracy, India is the place to be. If you want stability with sustainability, India is the place to be. If you want growth with a green approach, India is the place to be," Modi said.
India offers "democracy, demography, demand, as well as diversity. Such is our diversity that you get multiple markets within one market. These come with multiple pocket sizes and multiple preferences. These come with multiple weathers and multiple levels of development", he said.
The country's growth has the potential to catalyse global economic resurgence as "any achievements by India will have a multiplier impact on world's development and welfare", the Prime Minister said.
VGIR 2020 was attended by 20 top institutional investors from the US, Europe, Canada, Korea, Japan, Middle East, Australia, and Singapore.
These pension and sovereign wealth funds have total assets under management of about $6 trillion, as per an official statement issued earlier.
The roundtable is being organised by the Ministry of Finance and the National Investment and Infrastructure Fund.
Modi showcased the recent agriculture and labour reforms and faster-than-anticipated reflation of the economy and asserted that the government will do whatever it takes to make India the engine of global growth resurgence.
Speaking to 20 top global investors, the Prime Minister said the 'Self-Reliant India' campaign does mean the country is becoming a closed economy but rather offers opportunities to be part of the India growth story.
India's quest to become 'Aatmanirbhar' (self-reliant) is not just a vision, but a well planned economic strategy, he emphasised.
Edited by Megha Reddy