India’s stock market has witnessed a compounded annual growth rate (CAGR) of 13 per cent over the last four years, since Prime Minister Narendra Modi assumed office, which demonstrates that investing in the country makes business sense, Commerce & Industry Minister Suresh Prabhu said today. The minister made the remarks in presence of the Prime Minister, who presided over the inaugural session of India-Korea Business Summit here.
“The stock market in the last 4 years, ever since the Prime Minister has taken over the leadership, has grown by 13 per cent CAGR. It has returned 13 per cent compounded annual growth rate to the investors and that shows that investing in India makes business sense,” Prabhu said. Addressing the summit organised by CII, the minister said difficulties will be addressed to realise the prime minister’s vision of bringing more investments to India, particularly from Korea.
Listing the areas for intensifying bilateral economic cooperation, Prabhu said India can export marine food products, chemicals, garments and leather to Korea. He said the two nations can collaborate in space technology and startups. The minister said India can offer a special area demarcated for Korean companies in the Delhi-Mumbai industrial corridor.
“We can give a special area demarcated for Korean companies in which everything will be Korean, and therefore under the Delhi-Mumbai industrial corridor some area can be identified only for Korean companies,” said the minister.