India emerges as land of opportunity, invites US firms to invest: PM Modi

New Delhi, July 22: Prime Minister Narendra Modi on Wednesday invited US companies to invest in India's healthcare, infrastructure, defence, energy, farm and insurance sectors, saying the country offers openness, opportunities and options for investments.

"Today, there is global optimism towards India. This is because India offers a perfect combination of openness, opportunities and options. Let me elaborate. India celebrates openness in people and in governance," Modi said while addressing the US-India Business Council 'India Ideas Summit' through a video link.

He said the coronavirus pandemic has shown the importance of economic resilience, which can be achieved by stronger domestic economic capacities.

"This means improved domestic capacity for manufacturing, restoring the health of the financial system and diversification of international trade," he added.

"India is emerging as a land of opportunities. Let me give you one example of the tech sector. Recently, an interesting report came out in India. It said for the first time ever, there are more rural internet users than even urban internet users," he said.

Stating that open markets mean more opportunities, Modi said during the last six years the government has made many efforts to make the Indian economy more open and reform-oriented.

Reforms have ensured increased competitiveness, transparency, digitisation, innovation and policy stability, the Prime Minister said.

Here are the Highlights:

• PM Modi delivers keynote address at India Ideas Summit hosted by US-India Business Council (USIBC), via video conferencing.
• The idea of building a better future is very relevant says PM Modi. We all have to collectively give shape to the future
• We must place the poor and vulnerable at the core. Ease of living is as important as ease of business
• We must focus on resilience against global shock. It took a pandemic for us to realise that
• We all agree that world is in need for a better future. And, it is all of us who have to collectively give shape to the future. I firmly believe that our approach to future must primarily be a more human-centric one
• Global economic resilience can be achieved by stronger domestic economic capacities. This means improved domestic capacity for manufacturing, restoring the health of the financial system and diversification of international trade
• India is contributing towards a prosperous and resilient world through the clarion call of an Atmanirbhar Bharat. For that, we await your partnership
• Open minds makes open markets says PM Modi.
• During the last six years, we have made many efforts to make our economy more open and reform oriented. Reforms have ensured increased 'Competitiveness', enhanced 'Transparency', expanded 'Digitization', greater 'Innovation' and more 'Policy stability'
• India is emerging as a land of opportunities says PM Modi.
• India invites you to invest in the hard work of our farmers. There are investment opportunities in the farming sector says PM Modi. The best time to invest in agriculture is now said PM.
• India and US have built a robust partnership in the farming sector says PM Modi. This is also the best time to expand in the health care sector, the PM also says.
• This is the best time to invest in India
• This is an ideal time to invest in the civilian aviation sector, says PM Modi.
• Civil Aviation is another area of great potential growth. The number of Air passengers are expected to more than double within next 8 years. The top private Indian airlines plan to include over a thousand new aircraft over the coming decade
• We have cleared path breaking reforms in the space sector. Come to India and invest
• India invites you to invest in defence & space. We're raising the FDI cap for investment in defense sector to 74 per cent. India has established 2 defence corridors to encourage production of defence equipment & platforms
• India invites you to invest in energy. As India evolves into a gas-based economy, there will be big investment opportunities for US companies. There are also big opportunities in the clean energy sector
• India offers many more opportunities. The rise of India means rise in trade opportunities with a nation you can trust says PM Modi.
• India, US are natural partners. We have scaled many heights in the past says PM Modi.