Prime Minister Narendra Modi, who chaired a roundtable meeting with top American CEOs from the financial sector here on Thursday, made a strong pitch for increased investment in various sectors in India: Check out the top 5 things on his mind:
1. Prime Minister Modi outlined his vision for ‘Start-Up India, Stand-Up India’. Modi said that along with the public sector and private sector, he was laying emphasis on individual startups and entrepreneurs – whom he referred to as the “personal sector.” He said start-ups and innovation had been at the heart of the IT revolution.
2. Prime Minister Modi highlighted the economic successes over the last fifteen months. He said FDI in India had increased substantially over this period, a trend contrary to what was seen across most of the world, and this showed increased investor confidence in India.
3. Prime Minister Modi spoke of the Direct Benefit Transfer scheme for LPG subsidy, which had emerged as the largest DBT scheme anywhere in the world. He also spoke of the liberalization of the FDI regime in sectors such as insurance, railways and defence.
4. The Prime Minister mentioned some specific sectors where there was great scope for innovative solutions in India, including insurance products for the agriculture sector and the health sector. He mentioned defence manufacturing, electronic goods manufacturing, renewable energy equipment, railways and metros, Clean India and Digital India as sectors where immense potential existed for investment.
5. He said 50 million new houses by 2022, broadband connectivity for 600,000 villages, doubling of railway capacity and 175 Gigawatts of renewable energy generation were some of the concrete targets his Government had set, which created huge investment opportunities.