'Make in India' Presentation in Yerevan
Investments in India - "What is not given, is lost"
On October 6, Indian Embassy invited the businessmen and the Ambassadors accredited to Armenia to a presentation of the new political guidelines of India's new government.
"Make in India" - this is the call of India's new Prime Minister Narendra Modi to the world businessmen and investors. Modi began to implement its pre-election promises. In recent years rupee started to depreciate, the economic growth went down, and unemployment increased.
The Ambassador of India to Armenia Mr. Suresh Babu made a presentation on what the new government has done within three months being in power. Prime Minister Modi has proposed to set up a manufacturing-based economy with annual economic growth of 5,4-5,9%, create jobs, provide electricity to the entire population , grant entry visas to businessmen on arrival at the airport, eliminate bureaucratic procedures for investors by introducing a single window principle.
According to the latest data India is considered to be one of the world's fastest growing economies, according to purchasing amount. Foreign direct investments grew by 8 percent, being 304.2 billion dollars as end of March 2014.
Then Mr. Babu presented 25 most attractive investment areas (biotechnology, chemistry, defense, education, oil and gas, health, heavy industry, IT, media, mining, pharmaceuticals, road construction, tourism, etc.) and noted that the Indo-Armenian cooperation can be in the areas of hotel business and construction, biotechnology, information technology and Jewelry.
India has set up a department, similar to our Armenian Development Agency, and information on all the investments is available on its website www.investindia.gov.in ; www.investinindia.com
Active discussions were held after the speech of the Ambassador of India. Ambassadors of Russia, Kazakhstan, Turkmenistan, Brazil, Switzerland, as well as Armenian representatives made suggestions, comments and observations, but the Lebanese Ambassador concluded his speech with the words of the Indian writer Rabindranath Tagor "What is not given, it is lost", explaining that if the money is not invested, then it is lost.