“There is a big amount of trust when it comes to India. That is our biggest capital. For example, we have memorandum of cooperation with the US, Europe, and Japan on semiconductors. We are working with the South Korean government and companies. Every company wants to collaborate with India, one way or the other,” he said at the World Economic Forum in Davos.
Vaishnaw further added that the market has sufficient growth opportunities. “We see 6-8% consistent growth rate over the next full decade, and this is based on a very clearly thought-out strategy. This strategy has four major engines,” the minister said, listing them as investment in infrastructure — both physical and digital, lifting up those at the bottom pyramid of the population, boosting manufacturing and simplifying processes underlying ease of doing business.
Vaishnaw compared hitting $100 billion with the inflows China attracted annually over more than a decade, and further added that investors now see India as the “most important investment destination”.