Finance Minister Arun Jaitley met sovereign wealth funds from Singapore and the UAE and has pitched for a stable policy regime and resilience of Indian economy. Jaitley highlighted opportunities the country presents to investors and sought investment in sectors like road, highways, oil & gas, urban infrastructure and railways and invited foreign capital in these sectors.
Jaitley held a discussion with several potential investors including European investment banks and sovereign funds of countries like Singapore and the UAE and highlighting investment opportunities India offers. Addressing the two-day India Investment Summit 2016, the Minister showing concern about the challenges before India said that the greatest challenge is to re establish the credibility of Indian markets and also said in order to establish the credibility of Indian economy it is important that the country not only reform but continue reform only in one direction. Jaitley further said that the decision making has been speeded up and hurdles which was there in the investment process has been sliced away. Meanwhile, expressing his confidence on passage of Goods and Services Tax (GST) bill, Jaitley said that GST has been supported by most political parties and hoped that the opposition parties will ‘see reason’ and it will become a reality soon.
Showcasing investment opportunities India offers, Mr. Jaitley said with one-sixth of the world population and largest the largest middle class, there are huge opportunities. “When people start noticing an economy, when people start investing in an economy, and that happens when the credibility of that economy is established. “Credibility is established by stability of policies, by consistent action in allowing it to grow and I think in the midst of this otherwise global slowdown, it is a great opportunity that India has which we are fully trying to realize,” he added.