 "Arun Jaitley arrives in Sydney, calls for FDI in infrastructure and manufacturing sector")
Finance Minister Arun Jaitley arrived in Sydney on a four day official visit to Australia today morning, where in the opening remarks during his meeting with the Premier of New South Wales Mike Baird he said that the Indian Government has opened various sectors for Foreign Direct Investment including railways and defence among others and invited businesses in NSW to invest and make in India.
Jaitley said that India needs a lot of FDI especially in manufacturing and infrastructure sector and said that the state governments too are taking keen interest and competing among themselves to have foreign investments in their respective states.
The Finance Minister said that present government has opened various sectors for FDI including railways and defence among others.
Inviting businesses in NSW to invest and make in India, he said that India wants foreign sovereign wealth funds to be part of NIIF, pension and insurance funds.
Jaitley also highlighted the various initiatives and reforms measures undertaken by the present government to boost the Indian economy which is growing at the rate of above 7.5%.
Speaking on the occasion, Baird expressed keen interest about the investment opportunities in India particularly in the infrastructure sector.
More From This Section
He highlighted the importance of communicating the information to larger business community in Australia to enable them to understand the opportunities available in India.
He also informed the Finance Minister that he intends to visit India during the next Vibrant Gujarat which is planned to be held in India in January 2017.