Finance Minister said foreign investors are trusting in India, Foreign investors invested 50000 crores in 2 months.
From New Delhi, Finance Minister Nirmala Sitharaman asked the industry on Tuesday what is the obstacle to making new investments. She asked why are they hesitating to invest in the manufacturing sector in the end and what are stopping them.
The Finance Minister compared the industry to Hanuman Ji-
Sitharaman said that other countries and their industries have confidence in India, he asked the Indian industry whether is it like Hanuman. You can’t believe your ability but your strength and someone stands next to you and says are you hanuman? do this? what is the person who is going to tell hanuman this surely cannot be the government?
The Finance Minister said that foreign investors are expressing a lot of confidence in India, while it seems that there is some hesitation about investing in domestic investors. The Finance Minister said at the Mindmine Summit that the confidence that other countries and their industries have in India is reflected in the flow of foreign direct investment and foreign portfolio investment and investor confidence in the stock market. She said that the government is willing to work closely with the industry and is ready to take policy steps, Sita Raman said that this is India’s time and we cannot miss the opportunity.
The Finance Minister said that after the recent announcement of a mechanism by the RBI, many countries have shown interest in trading in opposition to the rupee and in a way it will give a boost to the Indian economy from our expectations, is more like opening.
The Indian currency was able to defend itself–
A chief economic adviser Ananth Nageswaran has said that India is not defending its currency rupee and steps are being taken by the central bank to slow down the rupee volatility and keep the market trend in line. Nageshwaran said that the rupee is capable of defending itself.
Nifty once again closed above 1800-
The bullish trend in the stock markets continued for the fourth consecutive trading session on Tuesday and the Nifty of the National Stock Exchange climbed by 13 points and closed above 18000 runs for the first time since April 4. Foreign institutional investors on Monday bought shares worth Rs 65 crore in 2014. The sensor rose by 456 points to close at 60571 points. Nifty also rose 113.70 points to close at 1807 0.05 points.
Finance Minister Nirmala Sitharaman on Tuesday compared the industry to Lord Hanuman Ji and asked why they are finally waking up to entry and investment in manufacturing and what is stopping them.
The Finance Minister said that foreign investors keep expressing confidence in India, while there seems to be some doubt about investment in domestic investors.
He said that the government is willing to work closely with the industry and is also ready to take policy steps. It is clear that if the Finance Minister talks like this from a public forum, it must have been a deep concern. So the simple answer is that if companies do not invest in the manufacturing sector, then already the crisis of jobs will deepen, as well as the sword of inflation will be hanging, it will have a direct impact on the wheel of the economy.
The aim in the economy of 5 lakh million dollars
In the year 2019, Prime Minister Narendra Modi set a target of making India one man $ 50000 by 2024 by 25 and the manufacturing sector is going to play an important role in achieving one goal. Therefore, a target has been set to increase its share in GDP, which is targeted to reach 25 weeks. And the manufacturing sector has a share of 15 to 17 per cent of the GDP. from here the concern of the Finance Minister is also attached. Because if companies do not invest in the manufacturing sector, then one economy will not be able to gain momentum.
According to the data of the Center for Monitoring Indian Economy Pvt Ltd, the capital expenditure of companies on new projects in the quarter of June 2022 has been 4.30 lakh crores. Which has decreased by about 50 per cent as compared to the quarter in March 2022, during which was 8.18 lakh crores. Such a huge fall is certainly a matter of concern for the government, especially when the global supply chain has been affected due to the use Ukraine war and its effect is directly visible in inflation.
