There are big opportunities for foreign investors in India especially in manufacturing sector: Jaitley
New Delhi, Apr 1 (KNN) Union Finance Minister Arun Jaitley, who is on his first Australia visit as India's finance minister, said that there are big opportunities for foreign investors to invest in India in view of its big market, high growth potential especially in the manufacturing sector.
He was delivering the Key note address at the 'Invest in India' Roundtable Session with leaders of Australian Superannuation funds in Melbourne today. The meeting was attended by Australian Minister for Small Businesses and Assistant Treasurer Kelly O'Dwyer, Chairman of Future Fund Peter Costello and Indian High Commissioner Navdeep Suri.
He said the government has setup National Investment Infrastructure Fund (NIIF) for encouraging foreign investment in India in Infrastructure Sector in particular.
Renewable Energy is a sector where there is a big scope for foreign investment and Government is keen to promote.
Finance Minister further said that the Government has opened various sectors for FDI including Railways & Defence etc. He mentioned that Government has taken major steps for removing discretions in decision making process ensuring a transparent, predictable regime and for quick dispute resolution as well.
Inviting Future Fund, Australia's Sovereign Wealth Fund (SWF), and others to invest in India he said that Government is committed to address various investor issues including taxation.
Jaitley further mentioned that, India will continue on the current path of growth for a couple of decades more, bringing benefits of liberalisation to its people and eliminating the curse of poverty. He said that 7.5 per cent growth rate can be improved and Government is concentrating on several areas specially the rural India. (With PIB Inputs)