Now is the best time to invest in India: Jitendra Singh


New Delhi: Union Minister of State for Science and Technology Dr. Jitendra Singh on Sunday said that now is the right time to invest in India as it is fast becoming the investment destination of the world.

Addressing the diaspora at a community reception organized for the minister in New York, he said the Prime Minister has brought in pro-business reforms such as reduction in compliance requirements, removal of retroactive taxation, simplification of the corporate tax structure and reform of the Insolvency and Bankruptcy Code. . According to the World Bank report, India’s rank in ease of doing business increased from 142 in 2014 to 63 in 2022.

Singh welcomed PIOs (Persons of Indian Origin) and NRIs (Non-Resident Indians) to learn more about the startup boom in the country. He claimed that inventors, incubators and entrepreneurs are making a name for themselves with over 77,000 startups and 105 unicorns.

“It can inspire and encourage you to look for opportunities in India. The country has tremendous focus on sunrise sectors like 5G, artificial intelligence, drones, semiconductors, blockchain, green energy and space economy.

The Minister continued by saying that the National Education Policy 2020 creates many opportunities to strengthen our cooperation in universities, academic programmes, credit portability and research partnerships.

According to government data, goods exports from India reached a new high of $417.81 billion during the financial year (FY) 2021-22, representing a growth of 43.18% from $291.18 billion recorded in the previous fiscal . He claimed that India-US relations have emerged as the defining partnership of the 21st century.

“This is the first time that India has achieved its ambitious target of crossing the US$400 billion mark in merchandise exports and it also shows that India has begun to emerge as a reliable partner as global companies continue to increase their supplies. Looking to diversify the chains and reduce theirs. Dependence on China.”

Singh left for the US on a five-day visit to participate in the Global Clean Energy Action Forum where he also interacted with leading academicians and the Indian diaspora.

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