PM Modi attended Global Investors Meet that saw participants from across India and the world.
At Global Investors' Meet in Himachal Pradesh today, Prime Minister Narendra Modi encouraged the investors to put money in the state. The two-day investment meet, starting today, showcases investment opportunities in the state. "The Global Investors Meet in Dharamshala might sound surprising, but it is the truth. It is unprecedented, and I congratulate all of you. Earlier, investors' summit like these used to happen in just a few cities in the country. The situation has changed today. Every state today is competing to attract business and investment," the Prime Minister said at the summit named "Rising Himachal".
"Himachal has a huge potential for investment in the fields of tourism, pharma and other sectors," PM Modi said in his 30-minute speech, adding that the state's growth in the last two years is noteworthy.
The Prime Minister said that in today's global scenario, if India is standing strong, it is because it has not let the fundamentals of its economy weaken. "We are one of the lowest Corporate Tax Economy in the world," he said addressing the large gathering of investors at the the Global Investors' Summit.
"States have now understood that incentives do not help better governance. They do not help the industry or the investors in the long term. A well-equipped ecosystem is integral for any investor today. The rise in this competition will help our industry grow better at the global level," PM Modi said.
India is now among the top 10 performers in Ease of Doing Business and has improved its rank by 79 points between 2014 and 2019, he added.
The "Rising Himachal" meet saw participants from across India and the world. It aims to attract investment in the agri-business, food processing and post-harvest technology, manufacturing and pharmaceuticals, tourism, hospitality and civil aviation, hydro and renewable energy and other sectors.