New Delhi: From investors to Goldman Sachs To ibmDHL, Brookfield and some semiconductor giants have told the government they want to significantly increase their Indian operations over the next two-three years amid US signals that many companies are looking to further reduce their dependence on China.
Last week, representatives of Goldman Sachs told Finance Minister Nirmala Sitharaman they wanted to double, if not triple, the share of Indian engineers, who already make up a significant number of the US financial services giant’s global operations.
Similarly, DHL, which recently set up two major logistics facilities in the country, is looking to further ramp up its operations, a government official said.
In Davos, Commerce and Industry Minister Piyush Goyal also received the same message from CEOs of multinationals, from IBM and Brookfield to Standard Chartered Bank.
“This time, there were very few demands in terms of opening up or changing the rules to facilitate investment. India is a preferred investment destination at the moment, and it is for us to take this forward,” said an official who was in Davos last week.
The Rs 2 lakh crore Production-Linked Incentive (PLI) scheme is already setting up several large manufacturers in India, some of which have been shifted to India. In addition, some asset monetization schemes are drawing interest from many global investors, especially on the REITs and InvITs front.
In addition, an explosion of free trade agreements by India has made the climate more favorable as Canada’s trade partners from Australia and the United Arab Emirates, to overcome the decades-old reluctance to enter into such treaties. Sees the country in a more positive light after his decision. ,
Anyway, the decision of many companies in America and Europe to reduce their dependence on China in the post-Covid world has helped India. “While Vietnam has seen a huge FDI inflow and companies have established a base, they are realizing that India has a huge market apart from having a very strong base to meet the global manpower requirement, be it Engineers or other professionals,” said a senior government official.
Last week, representatives of Goldman Sachs told Finance Minister Nirmala Sitharaman they wanted to double, if not triple, the share of Indian engineers, who already make up a significant number of the US financial services giant’s global operations.
Similarly, DHL, which recently set up two major logistics facilities in the country, is looking to further ramp up its operations, a government official said.
In Davos, Commerce and Industry Minister Piyush Goyal also received the same message from CEOs of multinationals, from IBM and Brookfield to Standard Chartered Bank.
“This time, there were very few demands in terms of opening up or changing the rules to facilitate investment. India is a preferred investment destination at the moment, and it is for us to take this forward,” said an official who was in Davos last week.
The Rs 2 lakh crore Production-Linked Incentive (PLI) scheme is already setting up several large manufacturers in India, some of which have been shifted to India. In addition, some asset monetization schemes are drawing interest from many global investors, especially on the REITs and InvITs front.
In addition, an explosion of free trade agreements by India has made the climate more favorable as Canada’s trade partners from Australia and the United Arab Emirates, to overcome the decades-old reluctance to enter into such treaties. Sees the country in a more positive light after his decision. ,
Anyway, the decision of many companies in America and Europe to reduce their dependence on China in the post-Covid world has helped India. “While Vietnam has seen a huge FDI inflow and companies have established a base, they are realizing that India has a huge market apart from having a very strong base to meet the global manpower requirement, be it Engineers or other professionals,” said a senior government official.