'India laying red carpet for you': PM Modi woos global companies

Amid coronavirus challenge, India remains one of the most open economies in the world and is laying a red carpet for all global companies to come and establish their presence, Prime Minister Narendra Modi said on Thursday as he wooed global businesses. 

Speaking at the India Global Week 2020, Modi said green shoots of economic revival are already visible in India as it is coming out of coronavirus-enforced lockdown.

He said Asia's third-largest economy is one of the most open in the world and offers investment friendly, competitive business environment and immense opportunities.

"India remains one of the most open economies in the world. We are laying a red carpet for all global companies to come and establish their presence in India. Very few countries will offer the kind of opportunities India does today," Modi said while addressing 5,000 global participants from 30 nations. 

Listing out recent reforms in agriculture as well as those in defence and space sectors to seek global capital, Modi said India is making the economy more productive, investment-friendly and competitive. "There are many possibilities and opportunities in various sunrise sectors in India."

He said there is faith that India has a leading role to play in global revival in the post-COVID-19 world.

"In these times, it is natural to talk about revival. It is equally natural to link global revival and India. There is faith that the story of global revival will have India playing a leading role," Modi said.

"When India talks of revival it is a revival with care, revival with compassion, a revival which is sustainable - both for the environment and the economy," he said. 

"On one hand India is fighting a strong battle against the global pandemic. With an increased focus on people's health, we are equally focussed on the health of the economy," he said.

"World over, you have seen the contribution of India's talent-force. Who can forget the Indian tech industry and tech professionals? They have been showing the way for decades. India is a power-house of talent that is eager to contribute," he added.

Modi further called Indians as 'natural reformers', saying that history is proof of that.

"Indians are natural reformers. History shows that India has overcome every challenge be it social or economic. On one hand, India is fighting a strong battle against the global pandemic. With an increased focus on people's health, we are equally focussed on the health of the economy," the Prime Minister added.

"India is ready to do whatever it can to further global good and prosperity. This is an India that is reforming, performing and transforming," he said.

Speaking on the government's coronavirus relief package, Modi said, "In this time of a pandemic we have provided relief to our citizens and undertaken big structural reforms."

"Our relief package has been smart and targeted to provide the most poor with the most help. Thanks to technology every penny has reached the beneficiaries directly," he said. 

On the self-reliant India campaign, he said, "Aatmanirbhar Bharat is not about being self-contained or being closed to the world. It is about being self-sustaining and self-generating."

India Global Week 2020 is a three-day virtual conference themed ‘Be The Revival: India and a Better New World’. Other high profile speakers participating at the event include External Affairs Minister S Jaishankar and Railways Minister Piyush Goyal. 

Foreign speakers include UK Foreign Secretary Dominic Raab, Home Secretary Priti Patel, US Ambassador to India Ken Juster among others.