India's commerce and industry minister Piyush Goyal appealed to the Indian diaspora of the US to help promote the country as a preferred investment destination, highlighting the vast opportunities available in various sectors.
He said that the government has taken a series of measures to attract investments and those steps include promoting ease of doing business, reducing compliance burden, opening sectors like space and efface for foreign direct investments.
Goyal also asked the diaspora to participate in making India a developed nation by 2047.
"Help promote brand India as a premium investment destination. Investing in India has tremendous growth potential and we saw NRI deposits (increasing to) USD 3 billion between April and May, and that is four times what it was last year. I am sure many of you would be looking at investments in the Indian stock market, bond market, banking systems, fixed deposits, depending on your appetite for risks," he said while virtually interacting with the Indian diaspora of the US.
He added that though at present the US is attractive for investors because of high interest rates, going forward India provides huge opportunities for businesses. "I would invite all of you to invest in India. India's growth story will continue unfettered at a scorching pace. India would continue to lead the world economy and will continue to be the most favoured destination for investment, and manufacturing," Goyal said.
