Finance Minister Arun Jaitley today has launched ‘Make-in-India’ conference in Sydney with an aim to make Australian businesses a part of India’s present business phenomena.
- He also said that with the growing business friendly environment has brought the world’s focus on India and the Make-in-India’ initiative is a significant thrust area. However, Mr. Jaitley said that India although has managed to become cost-effective service provider but the country has failed to become a low-cost manufacturing base.
- He also has said that despite the global economy facing a crisis, Indian economy is among the fastest growing in the world and it will continue to grow at a good rate of over 7.5%. the Make-in-India conference was launched in the presence of Australia’s Special Envoy for Trade Mr. Andrew Robb, Indian High Commissioner Mr. Navdeep Suri, Confederation of Indian Industry (CII) Director-General Mr. Chandrajit Banerjee, CII President Mr. Sumit Mazumder and New Parliament Secretary for Major Events and Tourism Mr. Jonathan O’Dea.
- Arun Jaitley also met with Australian Foreign Minister Ms. Julie Bishop which is expected to further strengthen the bilateral relationship between the two countries. India has also shown a great sight for economic reforms thus, the two-day Make-in-India conference will further boost up the environment in India for foreign investors to invest in the country. Mr. Jaitley further has added that Indian market is huge occupying 1/6 of the global population and its purchasing power is increasing at regular intervals. He also has said that the government is working towards creating a cohesive business environment as well as promoting ease of doing business and tax reformation to attract foreign investment.
(Source: The Financial Express)