Promising more reform measures in coming days, Finance Minister Arun Jaitley today said a lot of public investment is taking place in India and government is trying to ensure that private investment, including from abroad, also increases to support economic growth.
Inviting foreign investors to participate in India's growth story, he assured them of continuing reform process for development of an investment-friendly environment and said there were no more complaints left about investment proposals from abroad being held up.
Jaitley, who came here this morning to meet top government leaders and foreign investors, said that investors from the world over have been quite appreciative of what is happening in India and "they have great hopes of India being an important player in the world economy today".
He held an extensive 'dialogue session' with nearly 300 Singapore-based business leaders and investors, including representatives of global entities from Europe and America.
Asserting that reforms are an ongoing process, he assured investors that the government will continue to take these measures to make India an attractive investment destination and a better place to do business.
"The bankruptcy code is ready and changes to arbitration laws and several other legislations are in the pipeline... For the next few years, we have our agenda full, reforms are an ongoing process," Jaitley said, adding that the legislations which could be taken in the form of the Money Bill will be pursued.
A Money Bill is important as it cannot be blocked by the Rajya Sabha where the ruling NDA does not have a majority. Recalling that there was a time when the experts were talking about dropping India from BRICS (Brazil, Russia, India, China and South Africa), Jaitley said: "Today, India has become the fastest-growing economy among BRICS."
India is no more a nation suffering from policy paralysis and uncertain taxation regime, he said, adding that now-a-days states are vying with each other to attract investment.
Moreover, he added, as a net importer, the country has benefited from declining oil prices in the international market. It has helped contain inflation as well as fiscal deficit.
