The minister also stated that there are several business prospects in various sectors in India and assured full support to businessmen willing to invest in the country.
According to the MSME Minister, India is on track to become the third largest economy; he encourages industry to continue investing.
He made the statements at the Inventivepreneur Chamber of Commerce and Industry (ICCI) and Ministry of Micro, Small, and Medium Enterprises (MSME)-hosted ‘GIC 23 Intergovernmental Connect’ today.
“From being the tenth largest economy in 2014, India is now the fifth largest.” Only Japan and Germany are ahead of us. “As our prime minister has envisioned, we will become the third largest economy by 2030,” he stated to approximately 200 participants from around the world during the event.
The minister also stated that there are several business prospects in various sectors in India and assured full support to businessmen willing to invest in the country.
According to him, the country will witness many industrial parks in various areas, and investors can explore business potential in this field.
He also stated that the industry must identify areas where imports are occurring and begin creating similar products in order to control inbound shipments.
According to ICCI Vice Chairman Rishabh Malhotra, the overseas delegates comprised industry executives and diplomats from nations such as Spain, Belarus, Mexico, and Africa, among others.
Participants come from a variety of industries, including FMCG, automotive, logistics, electricity, solar, and telecom.
As authorised by the minister, “we will guide them (investors) on various business-friendly policies being offered by the government of India and that of various other countries.”