We are laying a red carpet for global investors: PM Modi at India Global Week 2020

PM Modi (India Government Press Information Bureau via AP)

Delivering the inaugural address at the India Global Week 2020, Prime Minister Narendra Modi, while inviting global investors, said that India is one of the most open economies in the world.

"We are laying a red carpet for all global companies to establish their presence in India," he said.

"Very few countries provide the kind of opportunities that India does today. There are many possibilities in various sectors in India. We are opening the doors to investors," the Prime Minister further stated.

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He said that the government has brought various reforms in the MSME sector so as to complement industries.

"There are investment opportunities in defence sectors with relaxed FDI norms. One of the world's biggest militaries invites you (investors) to come and make products for it," PM Modi added.

There are more opportunities for private investment in the space sector, which means greater access to commercial use of space tech for the benefit of people, the PM said.

He said that in these times when the world is battling the COVID-19 pandemic, it is natural to talk about revival and there is faith that the story of global revival will have India playing a leading role.

"Indians have the spirit to achieve what is believed to be impossible. No wonder that in India, we are already seeing green shoots when it comes to economic recovery," Modi said while addressing the India Global Week 2020.

Modi also said that there are many possibilities and opportunities in various sunrise sectors in India. "Our reforms in agriculture provide a very attractive investment opportunity to invest in storage and logistics," Modi said.