To help policymakers in formulating effective policies and reforms for attracting investments in India, industry body Assocham organised an online conference. The industry body said that though the world is going through a difficult situation, a lot of opportunities are also emerging. India needs to take measures to encourage foreign investors.
“Government of India has been taking measures to revive the Indian Economy and talking measures to encourage foreign investors to look at India as the potential destination for investments and to the continuation of the business,” said Assocham president Niranjan Hiranandani.
“The present moment allows India to reap rich dividends by creating a manufacturing-friendly environment and offering lucrative deals to global players for setting up units in India,” he said.
Talking about the need for effective and urgent policy measures to drive business continuity beyond the lockdown and also strategic structural reforms to convert the domestic resources into opportunities, Assocham secretary general Deepak Sood said: “The economic stimulus will serve the cause of growth, jobs, price stability and macroeconomic stability better than fiscal conservatism.”
He explained: “Given the volatile situation, it is, therefore, crucial to rigorously strategize to make effective implementation of announced schemes and also share ideas of India as Atma Nirbhar Bharat in manufacturing and also a leader in exports.”
Sood said that the current situation gives India an opportunity due to the availability of abundant resources including the required skill set to attract investments in India and push forward the mission of Make in India.