FM invites Japanese investments

TOKYO/NEW DELHI: India’s Finance Minister Nirmala Sitharaman on Thursday invited Japanese investors and business leaders to explore investment opportunities in the country, saying that New Delhi is easing a lot of restrictions and ensuring overall ease of doing business in its walk towards Amrit Kaal.

Indian government describes ‘Amrit Kaal’, as the 25-year period culminating in the centenary of the country’s independence. Sitharaman is on a two-day official visit to Niigata, Japan, to attend a G7 meeting. India is an invitee to G 7 Finance Ministers and Central Bank Governors meeting.

Interacting with a group of investors and business leaders on the theme of ‘Rising Investment Opportunities: Destination India’, Sitharaman talked about the initiatives of the Indian government towards building India in ‘Amrit Kaal’.

She further said the Union Budget presented by her in February was prepared keeping in mind the needs of the next 25 years to help India become a developed nation by 2047.

Referring to ‘Amrit Kaal’, the finance minister said her government’s focus is on four “Is”.

The four Is refer to infrastructure - both physical and digital; investments - domestic and foreign; innovation to enhance use of technology in lives of people; and inclusivity to ensure every citizen benefits from growth. Sitharaman apprised the investors and business leaders from Japan, that to facilitate businesses, India has been easing a lot of restrictions and ensuring overall ease of doing business in its walk towards Amrit Kaal, the finance minister said in a series of tweets.

In her address, she also highlighted the government’s priority to incentivise and facilitate investments by businesses through the Production Linked Incentive (PLI) scheme, which was initially introduced for 14 sectors and is now being expanded in areas of semi-conductors and solar components.

Referring to India’s commitment to the greening of the economy and the goals under Nationally Determined Contributions, especially in renewable energy, she said that the country has already achieved, with its own funds, 175 GW of solar energy, and now aims to achieve 300 GW by 2030. She also said in the area of renewable energy, India has launched a National Hydrogen Mission.

As per the tweets, the minister also informed business leaders about the government’s focus on skilling people in the fast-developing area of artificial intelligence so that the young population can use it towards innovative solutions for all.