PM Modi meets large global investors

As preparation for next year’s Budget gathers steam, Prime Minister Narendra Modi on Friday met with leading private equity/venture capital players to seek suggestions on making India a more attractive investment destination.

Discussions during the meet revolved around seeking suggestions to make it even more easier to do business in India, attract more capital, and further the reform process, official sources said.

The meeting illustrates how the Prime Minister is interacting personally with industry leaders to gather inputs ahead of the next Budget, they added.

Finance Minister Nirmala Sitharaman is due to present on February 1 the Budget for the next fiscal year that starts on April 1, 2022.

Modi had in November last year met 20 large global investors managing assets of more than USD 6 trillion.

Since coming to power in 2014, the BJP government has unveiled a series of reforms that has helped India climb on the global ease of doing business ranking.

It is now pushing for making India a manufacturing hub. Production-linked incentive schemes for sectors from automobiles to semiconductors and solar have been announced to attract global manufacturers to set up base in the country.