Description
Finance minister says India is a business destination Noting that India is the destination for business, Finance Minister Nirmala Sitharaman said the country has the right mix of factors important to a growing economy, including a middle class, a captive market with buying power, investments public and products focused on technology, digital infrastructure and rule of law. In her remarks during an interaction on the Raisina Dialogue here, Ms Sitharman also said that there is no sector in India that is not available to the private sector and rejected opposition criticism that the government is selling off public assets.
"There is no sector in India that is not available for the private sector to operate. Public sector policy is not crazy and the government is not selling everything. The opposition fully understands the meaning but says we sell them. We don't. we make". sell them," he said.
She said that India is bringing the voice of the southern countries to the G20.
Ms. Sithraman said that well-educated youth, a middle class that offers a captive market, technology-driven investment and public infrastructure are among the reasons for India's steady growth.
Referring to climate finance, he said that both adaptation and mitigation must be discussed.
"There is a greater willingness to discuss the countries of the South and their needs."
Referring to the government's Atmanirbhar Bharat push, he said it was not a protectionist move.
"There are several ministers who are part of the G20 who have talked about friendship. India today is the destination for business. We have the right mix of things that matter for a growing economy: a middle class, a captive market with buys". energy, public investments focused on technology and products, the digital infrastructure exists,” he said.
Friendhoring refers to the relocation of supply chains to countries with a low risk of disruption by political factors or those seen as political and economic allies.
US Treasury Secretary Janet Yellen said during her visit to India last month that Washington was advancing an approach called "friendshoring" to build resilience in its supply chains by deepening integration with trusted trading partners. , including India.
Ms. Sitharaman also said that the government's response to the COVID-19 pandemic and the need to sustain growth has worked very well.
