Union Finance Minister Arun Jaitley while describing the 'global environment' as 'unsupportive' said that India is trying to grow to strengthen its market presence in the global map.
Speaking at the 'Invest in India' Business forum in Beijing on Friday Jaitley said, "In an unsupportive global environment if you grow then that shows your strength, which is what India is trying to do."
He said, "The World Bank has revised our ranking with a better number and our ease of doing business has also improved. We have to attract investment both in domestic and international markets."
While highlighting that the India's endeavour is to reach a higher level of growth and to sustain it, he said, "We have made India and open economy to attract more Foreign Direct Investment (FDI). We made a major announcement just four days ago."
On June 20, the government announced its revised Foreign Direct Investment policy by opening up the food processing sectors and airline business to 100 per cent ownership while relaxing norms in defence and pharmaceuticals.
He said, "Infrastructure is going to be a big area of emphasis for us. In the immediate future we will maintain a good growth rate. If the monsoons are good this year as expected we will improve on those rates".
On the Goods and Services Tax Bill or GST Bill, he said, "We are hoping to get GST Bill passed in the parliament soon."
He assured Chinese investors that India is an attractive destination for business.
On Thursday, Finance Minister left for a five-day visit to China to take part in a series of events including inviting people to invest in India. He is likely to visit China again, along with Economic Affairs Secretary Shaktikanta Das on July 19.
Comments
0 comment