The Union Commerce and Industry, Railways, and Food & Public Distribution Minister Piyush Goyal has invited the global investors to invest in India, taking benefit of the huge domestic market, and conducive business environment in the country. In his Keynote Address at Conference 'India: Drivers of Change' organized by the Bank of America, he said that the country offers fair value for their investments.

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Start-up culture

The Minister said that the Start-up culture in the country has really gained pace, giving impetus to the spirit of innovation and entrepreneurship, and now people of India are aspiring to become job-creators rather than job-seekers.

4 Cs-Courage, Confidence, competence, and compassion

Goyal emphasised on 4 Cs-Courage, Confidence, competence, and compassion.He said that India is set to become $5 Tn economy by 2025, and set the bar to $10 tn in next 7 to 8 years.

Trusted partner

Goyal said that India is being seen as a trusted partner in the global value chains. He said that India has a transparent system and open democracy. India is targeting to achieve rightful place in the comity of nations. He said that the Government is working as a team, breaking departmental silos. Shri Goyal said that there are large business opportunities in the country. Bold decisions are being taken to empower the businesses to think big and bold, and explore unchartered territories and businesses, he added.

Production-Linked Incentive (PLI) Scheme

Talking about Cabinet decisions, Goyal said that approval has been given to introduce the Production-Linked Incentive (PLI) Scheme in the 10 key sectors for Enhancing India’s Manufacturing Capabilities and Enhancing Exports – Atmanirbhar Bharat. He said that the PLIs announced earlier for the telecom, APIs and medical devices have got encouraging response. The incentives will help India in becoming strong, self-sufficient, self-reliant, and meeting our domestic needs as well as for exporting. The Minister said that the government will do the hand-holding for these sectors over the next 5 years. He also mentioned about other initiatives for various other sectors like cluster development and logistics support. On the Viability gap funding scheme for the social sectors, he said that it will bring in private investment in the social sectors like drinking water, health and education, and help in meeting the needs of the people.