Asserting that investors see India as the place to expand their businesses, Commerce and Industry Minister Piyush Goyal said on Thursday that there is an atmosphere of enthusiasm for making investments in the country.
Speaking at a session at the World Economic Forum (WEF) 2020, Goyal said several compes have told him that they will see at least 50 per cent of their workforce working in India in the future.
"All the investors can see that India is the place to expand and invest for a better future, particularly because it can be seen that India is a land where there are equal opportunities and integrity in work, as has been the Prime Minister's vision," he said.
"When I spoke to different businesspersons during my engagements at Davos, there is a lot of enthusiasm to invest in a land where they are confident that the democracy will ensure a fair engagement. Several compes have told me that they see at least 50 per cent of their work force will be working in India in future," Goyal said.
"Prime Minister Narendra Modi ji's vision for the nation is that we work as an orgc entity. The economy is well poised to take off and the government is ensuring that takes place," he added.
Goyal asserted that the Modi government took measures to bring the economy back in shape during the first term between 2014 and 2019.
"The first time we had inherited an economy which was pretty bad in shape. We largely spend the first term in getting the economy back in shape and getting the confidence of the world," he said, adding that the government "cleaned up the banks and strengthened them".
He also said that the government is looking at innovative ways to make liquidity available to borrowers.
Goyal said, "We are bringing a new scheme for export financing, where we are back stopping any losses exports could lead to banks, up to the extent of 90 per cent on principle and interest."
"Our scheme straight away moves any credit given to exporters to a double A rated credit. With that, the banks do not need too much capital and are much more confident to lend. We have liberalised the rules," he further said.
Goyal is in Davos for the annual WEF summit and is leading the Indian delegation which includes Union Minister of State for Shipping and Chemical and Fertilisers Mansukh L Mandaviya, Chief Ministers of Karnataka and Madhya Pradesh, Finance Minister of Punjab and the IT Minister of Telangana, according to an official statement.
Secretary Department for Promotion of Industry and Internal Trade, senior officials of the Ministry of Commerce and Industry and Invest India are also a part of the delegation.
The WEF annual meeting in Davos engages the world's top leaders to shape global, regional and industry agendas at the beginning of the year. The theme of the 2020 meeting is "Stakeholders for a Cohesive and Sustainable World".
( With inputs from ANI )