|
India should be seen not merely as a market for selling products but as a long-term investment partner, with foreign companies encouraged to work alongside Indian businesses in the country's growth story, says Union Minister of State for Commerce and Industry Jitin Prasada on Tuesday.
Speaking at the industry body Assocham's India Business Reforms Summit 2026, the minister said India's economic transformation is now being driven not only by metropolitan cities but also by smaller towns and rural areas, creating a large domestic market for businesses and investors. "India is changing bottom up as well. It's not only about our metros. So that's where. We are the biggest market," Jitin Prasada said. He said the government is encouraging global investors to become part of India's manufacturing and business ecosystem, rather than using the country only as a consumer market. "But I tell the investors, also the foreign investors, that don't treat India as just a market. We want to partner with you. We want them to invest in India," he said. Prasada said India offers a stable business environment backed by legal certainty and transparent governance, which gives confidence to domestic and foreign investors. "This government, India, we have a rule of law. There is transparency. And there's an equal footing for everybody. There is no shortcuts anymore," he said. The minister said recent free trade agreements with various countries have expanded market access for Indian businesses and opened fresh opportunities for micro, small and medium enterprises. "These FTAs have opened up a market you can't imagine. And our MSMEs are going to be the growth engine," he said. He added that the government's industrial strategy focuses on expanding value addition, technology and logistics infrastructure to strengthen manufacturing competitiveness. "We want to add to the value chain. It's not only about manufacturing... It's about tangible results. Our Gati Shakti portal, the logistics policy, the export promotion policy -- all those things coupled are ensuring that India is moving at such a rapid pace," Prasada said. (ANI)
|
