Defence Minister Rajnath Singh has invited US companies to invest in India and contribute in realising the dream of Make in India, Make for the World envisioned by Prime Minister Narendra Modi. Addressing the 18th India-US Economic Summit organised by Indo-American Chamber of Commerce through video conferencing yesterday, Mr Singh said, India is now home to stable and secure government which focuses on economic growth through series of reforms. He added that robust domestic demand and availability of talented young work force and innovation make India a major investment destination. The Minister called upon the industry leaders to focus on transfer of technology through joint ventures to realise the country’s true potential in defence sector.
Expressing confidence that American firms will find India as a major investment destination for defence manufacturing, Mr Singh assured the Industry that the Government is open for new ideas to create a business-friendly environment in India. He highlighted that, despite the COVID-19 situation, the country’s economy is back on track due to the steps taken by the Government.