PM Narendra Modi invites US firms to invest in India

New Delhi: Prime Minister Narendra Modi on Wednesday invited US companies to invest in India's healthcare, infrastructure, defence, energy, farm and insurance sectors, saying the country offers openness, opportunities and options for investments.

"Today, there is global optimism towards India. This is because India offers a perfect combination of openness, opportunities and options. Let me elaborate. India celebrates openness in people and in governance," Modi said, while addressing the US-India Business Council.

He said the coronavirus pandemic has showed the importance of economic resilience, which can be achieved by stronger domestic economic capacities.

"This means improved domestic capacity for manufacturing, restoring the health of the financial system and diversification of international trade," he added.

"India is emerging as a land of opportunities. Let me give you one example of the tech sector. Recently, an interesting report came out in India. It said for the first time ever, there are more rural internet users than even urban internet users," he said.

Stating that open markets mean more opportunities, Modi said during the last six years the government has made many efforts to make the Indian economy more open and reform-oriented.

Reforms have ensured increased competitiveness, transparency, digitisation, innovation and policy stability, the Prime Minister said.