India has many countries that can be considered to be natural partners when it comes to investments. Last month during a virtual keynote speech at India-Idea’s summit, the Prime Minister Narendra Modi named the United States as an essential partner who can help both India and the world to bounce back when the coronavirus pandemic is over. The Prime Minister also said that there has never been a better time to invest in our country. There is a global optimism when it comes to investing in India. The country has a combination of great opportunities and options along with an openness to those foreign investors who seek to do business in India. During Modi’s keynote speech, he mentioned that the country had attracted over $20 billion US dollars between the months of April and July.
Economic Reforms to Attract Foreign Investors
India needs to undertake more economic reforms to complement the government’s effort in bringing in more foreign investors. Efforts already taken to improve the business climate and to encourage investments in the trade have shown positive results. The economic reforms should not stop there. Further actions need to be taken to guarantee sustainable and inclusive growth. The government needs to give full support to foreign companies that are willing to set up operations in the fields of IT, energy, agriculture, healthcare, infrastructure and defence. Particularly when it comes to IT and digital services, India can be considered a land of plenty. The country has roughly half a billion internet users, making foreign investments in the digital space very attractive. Rural areas now have higher internet usage compared to urban cities. More infrastructure investments would make the internet even more accessible to the Indian population in excess of 1.3 billion. Better infrastructure would ultimately better the lives of the poor and vulnerable living in rural areas, improving ease of living and inclusion for all by being connected through the internet. The marginalised part of the population has been at greater risk during the pandemic. The pandemic has reminded everyone of the importance of resilience of the Indian economy towards external shocks, something that can be improved through better economic capacities domestically.
A Plethora Of Sectors To Invest In
There are extensive opportunities to invest in various sectors in India. Reforms have recently been undertaken in the agricultural industry. In this sector, there are great opportunities to invest in many areas such as the agriculture supply chain, inputs, equipment and machinery, organic produce and food processing. The healthcare sector is growing by more than 22% per year, providing excellent opportunities for investments.