India becoming a leading destination for foreign investment: PM Modi

PM says pandemic has taught global supply chains need to be built on trust and policy stability

Indivjal DhasmanaSubhayan Chakraborty New Delhi
Narendra Modi

Narendra Modi during his address at the third leadership summit of the US India Strategic and Partnership Forum

Prime minister Narendra Modi on Thursday invited US companies to invest in India by taking advantage of its stable tax regime and attractive Foreign Direct Investment (FDI) policies.
Addressing the US India Strategic Partnership Forum (USISPF), he said India received over $20 billion FDI flows this year and tech giants such as Google and Amazon have announced long term plans for India. Hinting at the opaque way the Chinese government handled the coronavirus pandemic, Modi made a strong pitch to position India as the only possible alternative for global manufacturing.
"This pandemic has also shown the world that the decision to base global supply chains should not only be based on cost but also on trust. Along with affordability of geography, companies are now also looking at reliability and policy stability. India is the location that has all of these qualities. As a result, India is also becoming one of the leading destinati

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First Published: Sep 03 2020 | 10:47 PM IST

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