1. FDI increase needs to translate into jobs: Nirmala Sitharaman

FDI increase needs to translate into jobs: Nirmala Sitharaman

Commerce Minister Nirmala Sitharaman on Thursday lauded the increase in foreign direct investment (FDI) in India but said it will be meaningful only when it translates into increased job creation.

By: | New Delhi | Published: October 6, 2016 4:27 PM
Nirmala Sitharaman said the government was now working towards adding infrastructure capabilities in tier-III cities and rural areas for the benefits of increased foreign investment to percolate down. (PTI) Nirmala Sitharaman said the government was now working towards adding infrastructure capabilities in tier-III cities and rural areas for the benefits of increased foreign investment to percolate down. (PTI)

Commerce Minister Nirmala Sitharaman on Thursday lauded the increase in foreign direct investment (FDI) in India but said it will be meaningful only when it translates into increased job creation.

“FDI flow is really very good but we have to translate it into meaningful investments and job creation. So not only increased foreign investments coming in, but we are working for it to be meaningful,” Sitharaman said at the World Economic Forum’s ongoing India Economic Summit here.

“Our attention will be to remove obstructions, so that businesses feel the ease,” she added.

Sitharaman said the government was now working towards adding infrastructure capabilities in tier-III cities and rural areas for the benefits of increased foreign investment to percolate down.

“Lot of regulatory mechanisms that go down to the local bodies will have to be eased upon. In rural areas, in tier-III towns, better market access needs to be provided,” she said.

For the comprehensive agenda, inter-ministerial synergy needs to be there and states too need to come on board, she said, adding, “work is on but there is more to achieve”.

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