April 20, 2024 11:54 (IST)
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Jaitley begins Australia tour batting for FDI
Sydney/New Delhi, Mar 29 (IBNS) Indian Finance Minister Arun Jaitley arrived in Sydney on Tuesday on his four-day official visit to Australia and met New South Wales (NSW) Premier Mike Baird.
During his meeting with Baird, Jaitley, in his opening remarks said that India needs lot of Foreign Direct Investment (FDI), especially in manufacturing and infrastructure sector.
He said that state governments in India too are taking a keen interest and competing among themselves to have foreign investments in their respective states.
Jaitley said that present Government has opened various sectors for FDI, including railways and defence.
He invited businesses in NSW to invest and make in India. He said, "we want foreign sovereign wealth funds to be part of NIIF, pension and insurance funds in India."
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, NSW Premier, Baird, expressed a keen interest about the investment opportunities in India particularly in the infrastructure sector.
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 Jaitley that he intends to visit India during the next Vibrant Gujarat programme, which is planned to be held in India in January 2017.
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