Economy

Huge appetite for global investment in India: Goyal

PTI Davos | Updated on January 27, 2018

Piyush Goyal, Minister of Railways and Coal, speaks during the World Economic Forum (WEF) annual meeting in Davos, Switzerland, on Tuesday. -- REUTERS

There is a huge appetite for a continuous surge in foreign investments in India with no comparable opportunity available worldwide, Union Minister Piyush Goyal said today, even as he saw India’s role at international platforms growing as a leader being looked at for solving the problems of a ‘fractured world’.

“Going forward, India’s role in the world economy, in the social tensions and in the fight against terrorism and climate change is only going to grow,” Goyal told PTI in an interview here on the sidelines of the World Economic Forum.

He also said Prime Minister Narendra Modi’s personal popularity and personal acceptability across the world is huge and he has emerged as the leader whom all world leaders look up to for leadership for tracking the problems that the world faces. “In that sense, 125 crore Indians have pride of place in the world,” Goyal said.

On the interest in India at the Davos summit, the minister said the world is watching with interest the way India is transforming into a superpower and a new economy and into a new India. “We have been the fastest growing large economy for the last three years and clearly people see a huge investment opportunity as India develops its infrastructure.

“With a 2 trillion dollar investment trust, we are looking at infrastructure, I don’t think there is a comparable opportunity in the whole world,” he said. Goyal said more and more people are already looking at investment in India and FDI has grown in a big way and there continues to be huge appetite for further investment in India.

“Whether it’s about climate change, the fight against corruption and black money or the issue of transparency in governance, the prime minister has put across his vision very effectively on various global platforms, including G20 and the way the global powers have accepted that viewpoint, I’m confident that India’s growing position is being recognised,” he added.

On the theme of the Davos Summit, creating a shared future in a fractured world and the role India can play, he said the world no more sees India as a big market but also as a binding force in a world facing various tensions and risks and the one which is today being called a fractured world. “India will play an important role in tackling the prevailing tensions in the world and India’s role would certainly be recognised at platforms like the World Economic Forum in Davos. “The message to the world is to look towards India and to think about investing in India,” he said.

On new age technologies and how India can grow there, Goyal said the way India has established its supremacy in the world of IT with Indians also working in all big IT companies of the world, similar things can be seen in the new areas like artificial intelligence and 3D manufacturing. “These new innovations will add further to India’s strength to serve the world,” he said.

Published on January 23, 2018

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