India is firmly committed to bringing back growth and having clear policies which will facilitate the business environment, transparency and speed, External Affairs Minister Sushma Swaraj said on Saturday. ‘The result is there before you in just 100 days: GDP growth is showing early signs of recovery. Indian economy has bounced back to record a growth rate of 5.7 per cent for the April-June quarter, the highest in the past two and a half years,’ Swaraj, who is on a two-day visit to Bahrain, said.
‘Interest in the economy has surged, queries for investment increased and the investment sentiment improved,’ she said, while addressing the ‘Diaspora Engagement Meet’ here. ‘Our Government is firmly committed to bring back growth, have clear policies which will facilitate the business environment, transparency and speed, well thought out decisions,’ she said.
Swaraj said that the focus of the Government is growth with an eye on manufacturing, infrastructure and trade. ‘In a major boost to the infrastructure and real estate sector, the Government is proposing tax incentives for two new investment instruments — Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) — to promote long-term investments from foreign and domestic investors, including the NRIs,’ she said and asked overseas Indians to take part in the Indian growth agenda.
Expressing the Indian Government’s gratitude to Bahrain for receiving and hosting so many Indians, she said, ‘India and Bahrain enjoy excellent bilateral relations. There is a large degree of convergence between Bahrain and India on a range of international issues.’ She added that it was her first visit to the country after taking office which was ‘an indication of the tremendous importance India attaches to Bahrain and to the region at large’. The presence of 350,000 Indian nationals out of a total of 1.2 million residents in Bahrain is one of the key aspects of our bilateral relations with Bahrain, she noted.
‘Interest in the economy has surged, queries for investment increased and the investment sentiment improved,’ she said, while addressing the ‘Diaspora Engagement Meet’ here. ‘Our Government is firmly committed to bring back growth, have clear policies which will facilitate the business environment, transparency and speed, well thought out decisions,’ she said.
Swaraj said that the focus of the Government is growth with an eye on manufacturing, infrastructure and trade. ‘In a major boost to the infrastructure and real estate sector, the Government is proposing tax incentives for two new investment instruments — Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) — to promote long-term investments from foreign and domestic investors, including the NRIs,’ she said and asked overseas Indians to take part in the Indian growth agenda.
Expressing the Indian Government’s gratitude to Bahrain for receiving and hosting so many Indians, she said, ‘India and Bahrain enjoy excellent bilateral relations. There is a large degree of convergence between Bahrain and India on a range of international issues.’ She added that it was her first visit to the country after taking office which was ‘an indication of the tremendous importance India attaches to Bahrain and to the region at large’. The presence of 350,000 Indian nationals out of a total of 1.2 million residents in Bahrain is one of the key aspects of our bilateral relations with Bahrain, she noted.