It's Best Time To Invest In India: Singh To Indian Diaspora In NYC

While assessing the Indian diaspora in New York, Union Minister Jitendra Singh on Sunday said that this is “the best time” to invest in India as it is fast becoming a global investment destination. 

Singh pointed out that policy reforms in the last eight years have improved India's rank in “ease of doing business” from 142 in 2014 to 63 in 2022, as per the World Bank report. 

Jitendra Singh also invites non-resident Indians and persons of Indian origins to come and explore the excellent startup boom in India, the success of which has become a global talking point. 

The minister said," After the National Education Policy 2020, India is now open to foreign universities and expresses hope that US universities will take advantage of these opportunities."

Singh pointed out that the reduction in compliance requirements, removal of retrospective taxation, simplification of the corporate tax rate structure and Insolvency and Bankruptcy Code (IBC) have improved India's "rank in ease of doing business from 142 in 2014 to 63 in 2022. 

Singh said that Indo-US ties have emerged as the defining partnership of the 21st century. 

As per government data, merchandise exports from India reached USD 417.81 billion during the financial year (FY) 2021-22, a surge of 43.18 per cent over the USD 291.18 billion recorded in the previous fiscal. 

He said, "This is the first time India has achieved its ambitious target of crossing the USD 400 billion mark in merchandise exports and this also shows that India has started to emerge as a trusted partner as global firms are looking to diversify their supply chains and reduce their dependence on China."