World, Asia - Pacific

Indian premier urges world investment

Narendra Modi says COVID-19 pandemic has shown India's pharma industry is asset for entire world

Shuriah Niazi   | 09.07.2020
Indian premier urges world investment FILE PHOTO

NEW DELHI

Amid struggles at home to contain the coronavirus pandemic, India’s prime minister on Thursday urged "global companies to come and establish their presence" in his country. 

“India remains one of the most open economies in the world ... Very few countries will offer the kind of opportunities India does today,” he said in an inaugural speech at the India Global Week 2020, a three-day virtual conference organized by UK-based media house India Inc. 

He claimed his government is making the Indian economy "more productive, investment-friendly, and competitive."

“India is ready to do whatever it can to further global good and prosperity. This is an India that is reforming, performing and transforming. Indians have the spirit to achieve what is believed to be impossible,” said Modi, adding that India is "already seeing green shoots when it comes to economic recovery."

On India's fight against the pandemic, which infected over 771,000 and killed more than 21,000 people in the country so far, Modi said: "On one hand India is fighting a strong battle against the global pandemic. With an increased focus on people's health, we are equally focused on the health of the economy."

He went on to say that the pandemic "has shown that India's pharma industry is an asset not just for India but for the entire world.

"It has played a leading role in reducing the cost of medicines, especially for developing countries.”

The conference is an annual event on India’s globalization that brings together over 5,000 global participants along with over 250 speakers for incisive global discussion and lively debate this year under the theme: "Be The Revival: India and a Better New World."

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