Prime Minister Modi Invites Canadian Businesses To Invest In Agriculture, Manufacturing

Prime Minister Narendra Modi on Thursday hard sold his government's latest changes in the labour and agriculture laws, saying they will make doing business in India easier as also give farmers the right to choose their market.

With its vibrant democracy, political stability and business-friendly policies, India offers an unparalleled investment destination for foreign investors, he said in his keynote address at the annual Invest India Conference.

The conference is organised with a special focus on further strengthening business ties between India and Canada.

The government, he said, has implemented reforms in key sectors of education, agriculture and labour with a view to improving participation of the private sector.

"If you are looking to partner in the field of education, the place to be is India. If you are looking to invest in manufacturing or services, the place to be is India. If you are looking to collaborate in the field of agriculture, the place to be is India," Modi said.

Stressing that "the India story is strong today and stronger tomorrow", the prime minister said, "We are proactively monetising assets across sectors - airports, railways, highways, power transmission lines."

He further said the FDI regime has been very well liberalised and the country has created a friendly tax regime for sovereign wealth and pension funds.

Referring to the coronavirus pandemic, Modi said, "India has adopted a unique approach posed by the Covid-19 pandemic. We have given relief and stimulus package for the poor and small businesses. We have also used this opportunity to undertake structural reforms. These reforms ensure more productivity and prosperity."

The prime minister further said India is playing the role of pharmacy to the world.

India has provided medicines to around 150 countries so far, he said.