With India eyeing economic crisis, PM Modi pitches for foreign investments

At the meeting with Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal and others, PM Modi discussed strategies to bring investments into India in a fast-track mode and to promote Indian domestic sectors.

He deliberated on strategies to attract more foreign investments into India as well as to promote local investments in order to give a boost to the economy against the backdrop of the pandemic.

Speaking on the same, PM Modi tweeted: "Chaired a high-level meeting to discuss ways to boost investment, both international and domestic. Issues relating to India’s reform trajectory were also discussed so that growth can be accelerated."

During the meeting, it was discussed that a scheme should be developed to promote more plug and play infrastructure in the existing industrial lands/plots/estates in the country and provide necessary financing support.

The PM directed that the action should be taken for a more proactive approach to handhold the investors, to look into their problems and help them in getting all the necessary Central and State clearances in a time-bound manner.

Various strategies to bring investments into India in a fast-track mode and to promote Indian domestic sectors were discussed.

Detailed discussions were held on guiding states to evolve their strategies & be more proactive in attracting investments.

"It was also discussed that the reform initiatives undertaken by the various Ministries should continue unabated and action should be taken in a time bound manner to remove any obstacles which impede promotion of investment and industrial growth," an official statement said.

India lost 1079 lives due to the coronavirus infection and registered more than 33000 cases across different states. Besides, the human casualty, India is also expected to face a huge economic crisis and rapid job losses.