Growth of imports whether chemicals or consumer goods become drivers of further investment as people see where the demand and market are, he said, as he urged the Indian diaspora of the US to help promote the country as a preferred investment destination.
“There is no better place to invest in with growth and safety, and stable currency that India has had for some years,” he said in a virtual interaction with the Indian diaspora of the US.
He said the government has taken a series of measures to attract investments and those steps, include promoting ease of doing business, reducing compliance burden and opening sectors like space for foreign direct investment.
“Help promote Brand India as a premium investment destination. Investing in India has tremendous growth potential and we saw NRI deposits (increasing to) $3 billion between April and May, and that is four times what it was last year,” he said.
“We can have electric automobile coming into India in a big way and improving the air in Delhi… it can’t be a unitary process if we want clean air,” he said on clean energy programmes in India. He also said: “We will have to move out of oil imports”.Replying to a question about social media confusion during the general election, he said: “Social media confusion did cause some trepidation, particularly in UP and Maharashtra, and we have lessons to learn as every election teaches a lot of new things. I can assure you that we are all working to understand evolving dynamics, what changed, what we need to focus on”.”After an election, there is always a period of time when anybody who has performed better than expected does have a little more arrogance and somebody who has performed less than expected does take time to introspect and course correction”.
