Source: DNA India
Promoting India as an attractive destination for FDI, President Pranab Mukherjee on Thursday asked Finnish investors to take optimum advantage of the ‘Make in India’ programme and promised a business-friendly environment which is “predictable, facilitatory and transparent”.
Making a strong pitch for bringing in investments, Mukherjee said India is fourth most attractive destination for Foreign Direct Investment for 2014-16 owing to easing of restrictions, growth and investor friendly atmosphere promoted by the government. “India has emerged as one of the largest global economies and the resilience of our economy is evident from the fact that the impact of the global financial crisis has been far less severe in India than other countries,” the President said while addressing Business Meeting at Finpro, a consultancy focused on supporting the internationalisation of Finnish companies, here.
“Presently, our Foreign Direct Investment (FDI) policy is widely seen to be amongst the most liberal in the emerging economies, allowing up to 100 % FDI under the automatic route in several of our sectors and activities,” he said, adding that it makes India an attractive destination for investments.
“The Indian government is committed to a business- friendly environment – impediment free, predictable, facilitatory and transparent,” he said amid concerns here over Nokia’s tax dispute with the Indian government.
“To that end, India has embarked on an ambitious ‘Make in India’ programme to make the country an investor-friendly destination by setting up single window clearances, e-Business portals and Investor Facilitation Cells. I am confident that Finnish investors shall take optimum advantage of the new policies unveiled,” he said.
Earlier in an address to the Finnish Parliament ‘Eduskunta’, Mukherjee said Finland’s technology in areas such as communications and IT, energy, shipbuilding, manufacturing, biotechnology, environment, healthcare and infrastructure services is amongst the best in the world.
“India would like to take advantage of your expertise in these areas…The new Government in India is focused on growth and creation of employment opportunities. It is taking measures to encourage investments, revive the manufacturing sector in India, promote skills development, develop smart cities, address social issues and engage closely with partners in these areas. Business sentiments are positive and strong; it is a period of opportunity in India,” he said.
The President said Indian economy grew at 5.7 % during the first quarter of 2014-15.