HomeBusinessGlobal firms trusting India’s growth story to double down on investments: PHDCCI

Global firms trusting India’s growth story to double down on investments: PHDCCI

New Delhi, Sep 4 (IANS) Global companies, including from Singapore, which are keen to double down on their investments are now further relying on India and trusting its robust growth story, the PHD Chamber of Commerce and Industry (PHDCCI) said on Wednesday.

Speaking to IANS, Dr SP Sharma, Chief Economist and Deputy Secretary General of PHDCCI, said that India is a very resilient economy that will continue to grow rapidly in the future.

He reacted after global real asset manager CapitaLand Investment Limited (CLI) announced to more than double its funds under management (FUM) in its core market India to $14.8 billion Singapore dollars (Rs 90,280 crore) by 2028 — up from the current 7.4 billion Singapore dollars – as Prime Minister Narendra Modi began his two-day official visit to Singapore.

“Our goal is to make India a developed nation by 2047, which requires substantial infrastructure development. Infrastructure is the backbone of our journey towards 2047, necessitating development in roads, sports facilities, airports, and railway tracks,” Dr Sharma told IANS.

Investment always seeks promising growth opportunities, and India is one of those opportunities.

“The world is confident in India’s growth potential, and as our plans and welfare schemes continue, our progress will remain intact. Companies will continue to invest in India and will benefit greatly from it,” Dr Sharma noted.

India is emerging as a rapidly growing economy, and we have confirmed that we can advance at a very fast pace.

“Our resilience is very strong, particularly in our post-pandemic growth, which has been above 8 per cent. Previously, our growth was around 7.5 to 8 per cent annually but this year, with the latest figures from the World Bank, we are expected to grow around 7.5 per cent again,” said Dr Sharma.

All global companies, especially progressive organisations, are closely watching India with great interest and focus, recognising that investing in this rapidly growing economy can yield significant benefits, the industry chamber noted.

–IANS

na/

Go to Source

Disclaimer

The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

For any legal details or query please visit original source link given with news or click on Go to Source.

Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.

If you are not willing to accept this disclaimer then we recommend reading news post in its original language.

RELATED ARTICLES
- Advertisment -

Most Popular