Ashwini Vaishnaw invites German companies to invest in India

Union Minister Ashwini Vaishnaw invited German companies to invest in India, saying that India is a reliable partner that offers political and economic stability. Speaking at the TV9 Global Summit held in Stuttgart on Thursday evening, he said that India is growing steadily at 6-8 per cent and is ready to continue this trend in the coming years.
“Consider including India in your supply chain. India is home to more than 1,800 global talent hubs in almost every sector. We offer a wide talent pool with world-renowned talent in IT,” the Minister said.
“Our government’s success reflects the fact that good economics can also lead to good politics. While many democratic countries face turmoil, India remains a reliable partner that offers both political and economic stability,” he said.
Vaishnaw said India has a very healthy balance sheet, with debt accounting for 57 percent of GDP, which is well below debt levels in other major economies.
“This success is not an accident. It is the result of a clear, well-thought-out strategy and meticulous execution,” he said.
The minister said India’s growth strategy is based on four key public investments in physical, social and digital infrastructure; numerous inclusive growth programs; Focus on production and innovation and the simplification of legal and compliance structures.
Vaishnaw said the Prime Minister Narendra Modi-led government believes in the vision of minimum government, maximum governance and has repealed more than 1,500 outdated laws and eliminated 40,000 unnecessary compliance requirements.
“New legislation such as the Digital Personal Data Protection Act and the Telecoms Act now provide a transparent framework for today’s digital economy,” he said.