At a time when world economies are still reviving, India is being recognized a shining star globally, said Commerce and Industry Minister Nirmala Sitharaman while inaugurating CII Invest North at Delhi on Thursday.
The Minister said that public investment in infrastructure creation, be it roads, highways, or waterways networks, have gone up significantly in the last two years. This will help the northern states since it is a landlocked region. Any lingering doubt in regard to GST or on any policy matter in the minds of investors should be addressed by state & Central Government, she stressed.
Invest North being held in Delhi from 22-23 September brings northern State Governments and potential investors face to face to explore business and investment possibilities. With 26 per cent share in national GDP, 27 per cent of installed power capacity, 59 per cent of dedicated freight corridors passing through North India, six states of the region exceeding national average per capita income, and 40 per cent of India’s FDI flow, Invest North offers vast opportunities for investment.
The minister also released the CII report ‘Investment Climate – A Report on Northern States of India’.
Ramesh Abhishek, Secretary, DIPP, Ministry of Commerce & Industry, highlighted the various policy reforms which have taken place in the last two years in making India a better place for doing business. DIPP is committed to bring India in the top 50 countries by 2018 in the World Bank’s Ease of Doing Business ranking, he added.
Malvinder Mohan Singh, Chairman, CII Invest North 2016 & Executive Chairman, Fortis Healthcare ltd, expressed hope that in addition to facilitating investments in northern states, Invest North would also facilitate greater regional cooperation and collaboration.
Rumjhum Chatterjee, Chairperson, CII Northern Region & Group Managing Director, Feedback Infra Pvt ltd said that action and initiatives on the ground rest with the States. Therefore, it becomes imperative to focus on opportunities that lie in the states. Invest North facilitates that.