Union Minister of State (IC) Ministry of Science and Technology; Minister of State (IC) Department of Earth Sciences; MoS in the Prime Minister’s Office and Ministry of Personnel, Public Grievances and Pensions Dr Jitendra Singh today told the Indian diaspora in New York that it is the “best time” to invest in the country as India is fast becoming an investment destination for the world.Dr. Interacting with the leading diaspora through a community reception organized for him in New York, Jitendra Singh pointed out that the pro-business reforms initiated by Prime Minister Modi in the last eight years such as reducing compliance requirements, removing retrospective taxation, simplifying corporate tax persons. The rate structure, the Insolvency and Bankruptcy Code (IBC) improved “India’s ease of doing business ranking from 142 in 2014 to 63 in 2022, according to a World Bank report.
Dr Jitendra Singh was addressing the Indian diaspora in New York after returning from the Clean Energy Ministerial Joint Ministerial Plenary (CEM13) and Innovation Mission (MI-7) at the “Global Action Forum on Clean Energy-2022” in Pittsburgh, Pennsylvania. . He led a high-level joint Indian ministerial delegation of the Ministry of Power, New and Renewable Energy and the Ministry of Science and Technology to the Energy Summit from 21-23 September and presented India’s perspective on clean energy initiatives and climate action at various roundtables. and a joint ministerial plenum.
Dr. Jitendra Singh also invited NRIs (Non-Resident Indians) and PIOs (Persons of Indian Origin) to come and explore the big start-up boom in India whose success has become a global talking point. He said that with over 77,000 start-ups and 105 unicorns, our innovators, incubators and entrepreneurs are making headway and this can inspire and encourage you to look at opportunities in India. There is huge focus in the country on dawn sectors like 5G, artificial intelligence, drones, semiconductors, block chain, green energy and space economy, the minister added.
Referring to the National Education Policy 2020, Dr Jitendra Singh says it opens up countless possibilities to improve our inter-university linkages, joint academic programmes, credit transferability and research partnerships. He said that India is now open to foreign universities setting up campuses in the country and we hope that American universities will take advantage of these opportunities. Dr Jitendra Singh said that as two democracies with shared values, open exchange of knowledge remains key to our strong partnership. Indian students in the United States of America are an integral part of it, as are our ties between universities and educational institutions on both sides.
We also have a large number of Indian academics and researchers in the US. The minister informed that Indian students are the second largest cohort in the US and what sets them apart is that most of them are enrolled in Science, Technology, Engineering and Mathematics (STEM) courses. He said they contribute to the cross-flow of knowledge, technology, research and prosperity between the two countries, and honing talent in this specialized field is of particular importance for the digital age, for strengthening the knowledge economy and for building a greener planet.
The minister was happy that today so many of the 500 companies, be it Google and its parent company Alphabet, Microsoft, Adobe, IBM, Alphabet, Twitter, FedEx, NetApp and Starbucks, have Indians either at the helm or playing an important role at the top knowledge. Dr Jitendra Singh said India-US ties have emerged as the defining partnership of the 21st century and according to government data, India’s merchandise exports during the financial year 2021-22 hit a new high of $417.81 billion, up 43.18 percent from 291 .18 billion USD recorded in the previous fiscal period.
He said this is the first time India has achieved its ambitious target of crossing the $400 billion mark in merchandise exports and it also shows that India has started to emerge as a credible partner as global firms look to diversify their supply chains and reduce their dependence on China . Dr Jitendra Singh concluded by saying that we in India and around the world are celebrating 75 years of India’s independence and its incredible journey as a vibrant democracy and a thriving economy. The minister told the Indian diaspora that they represent the aspirations of a new India, an India that is on the march towards ‘AmritKaal’, a golden age of progress and growth.
It is also heartening to know that the largest India Day parade in New York was organized on 21 August 2022 by the Federation of Indian Associations (FIA) in collaboration with the Consulate. The minister urged them to come together and celebrate India’s diversity, arts, innovation, sporting achievements and much more and contribute to the further march of India as a nation. DrJitendra Singh left for India after a 5-day fruitful visit to the USA to attend the Global Clean Energy Action Forum and meaningful interaction with eminent academics as well as the Indian diaspora.