India has become an attractive investment destination and advanced economies consider it right for “friendshoring” because of its skilled youth power, captive domestic market, technology-driven public investments and rule of law, finance minister Nirmala Sitharaman said on Saturday.
“You can speak against the government, you can speak against the Prime Minister, but then, you are there to do your business. So, there are no picking you up and disappearing from the world, none of that happens. Businesses are respected for what they do,” she said at the Raisina Dialogue 2023, which was being held in New Delhi.
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Replying to a query on India’s reasons for being confident of a sustained growth despite global headwinds, Sitharaman said the country has the “right combinations” that matter for a robust growth. India has youth power, a middle-class that gives a captive market with certain purchasing power, technology-driven public investments in areas such as infrastructure, health education and fintech and “oft-repeated but understated” rule of law, she said.
The investor-friendly approach is not just confined to the Centre, she said. “Many of them are really getting into this race of saying is my state attractive enough? Are we alluring enough for investments to come? And so on,” she said.