piyush goyal: Piyush Goyal calls upon Missions to promote India as investment destination

New Delhi: Commerce and Industry Minister Piyush Goyal has called upon Indian missions to play an important role in identifying business opportunities for domestic companies, exporters and make India a preferred investment destination.

The minister, along with External Affairs Minister S Jaishankar, was interacting with 131 missions from different geographies last evening through video conferencing.

Goyal said that all should work to convert this COVID-19 situation into an opportunity by coming up with new reforms to improve domestic industries.

“We should aim for an economic growth higher by 3x … Discussion have happened at the highest levels where clear instructions have been given to capture the opportunities opening after the post-COVID scenario,” an official statement said quoting Goyal.

Around 100 countries have benefited from Indian pharma, he said adding all nations are searching for countries which have a transparent dealing, rule of law, and are reliable.

“Indian missions should help us with identification of business opportunities that exist in their countries,” Goyal said.

He added that the Department for Promotion of Investment and Internal Trade is working to create a genuine single window for setting up factories and manufacturing units.

Asking the missions to report the opportunities, Goyal said that promoting trade and investment is a shared responsibility of missions and ministries.

“All the missions have been asked to send a proposal to look at the opportunity post COVID-19. The proposal should have innovative ideas and should be submitted, containing suggestions to improve the exports,” the statement said.

It said that missions need to start networking, communicating with companies, come up with business leads and new contacts, and identify technology which can be implemented in India and “fight for India” in their countries.

External Affairs Minister S Jaishankar said that outcome of this pandemic is that now the whole world is aware of the consequences of over dependence on one geography.

“India should take this opportunity to grow itself. As all the countries have taken a hit, the recovery path for India will be through trade and investment. Now missions have to take responsibility to get out of their offices, do networking, talk to companies and persuade them to invest in the India,” he said.

He specifically identified the opportunity in the pharmaceutical and agricultural sectors, and in the African region.

The minister said that the missions should be proactive not only in foreign countries but in India also and should work in tandem with the ministries back home.

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