Defence Minister Rajnath Singh on Tuesday said India rolls out red carpet, and not red tape to investors and that there is broad consensus for sustainable economic development in the country.
Inaugurating Invest Karnataka-2025 meet here on Tuesday, he said India has addressed the crucial point of policy uncertainty by creating a stable and predictable policy environment.
"When I speak about the policy uncertainty, I want to emphasise a crucial point. Today across all governance level in India, including the central government, state government and local bodies, there is a broad consensus that sustainable economic development must be driven by a market led economy with the private sector playing a leadership role," Singh said.
According to him, this shared commitment of sustainable economic development provides a stable and predictable policy environment ensuring that investors can invest with confidence on policy continuity.
Singh said in the past investors faced numerous challenges and one of the biggest hurdles was red tape, but now the time has changed.
"Today India no longer presents red tape to investors. Instead, we roll out the red carpet for them. This kind of cross party consensus on promoting investment plays a crucial role in reducing uncertainty for our investors," the minister pointed out.
Singh told the investors who had gathered from various parts of the world that Karnataka offers everything one seeks in an investment destination.
Speaking about Karnataka, he said, "No matter what your investment requirements are, Karnataka provides a good foundation for growth and success," he said.
"As an investor, you seek a world class infrastructure and Karnataka is offering next generation infrastructure facilities. If you require skilled human resources, Karnataka stands out with its highly talented future ready work force," the minister said.
Karnataka Chief Minister Siddaramaiah, his deputy D K Shivakumar, Karnataka Large and Medium Industries Minister M B Patil, Union Minister for Food and Civil Supplies Pralhad Joshi and Karnataka Chief Secretary Shalini Rajneesh were among those present on the occasion.
Mahindra and Mahindra Group chairperson Anand Mahindra, JSW Group chairperson Sajjan Jindal, Biocon chairperson Kiran Mazumdar Shaw, Kirloskar Systems chairperson Geetanjali Kirloskar and Hero Future Energies chairperson Rahul Munjal attended the event.
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