The Indian Ambassador to Kuwait, H E Sibi George and Mazen Al Essa, Undersecretary at the Crown Prince office inaugurated on tuesday the two-day ‘Made in India’ exhibition in the presence of guests and dignitaries.
In his address to the gathering, the ambassador called 2021 an important milestones for India and Kuwait as both countries celebrate the 60th anniversary of establishment of diplomatic relations between the two countries and the two-year long celebrations of the 75th anniversary of India’s independence.
The two-day exhibition, the Indian envoy said, showcases “to all our friends of India in Kuwait the finest of India’s products, a sample of India’s technological prowess and the engineering marvel, a slice of the New, Resurgent India that is on display in this beautiful setting that we have, which has in turned been tailored to meet COVID-19 protocols and guidelines.
The ingenuity and indomitable spirit of the inhabitants of one of the world’s ancient civilizations is the driving force behind India’s Make-in-India campaign. An initiative which was launched seven years ago this month in 2014 with the aim to facilitate investment, foster innovation, building best in class infrastructure, and make India a hub for manufacturing, design, and innovation which has now metamorphosed into a larger Vision to “Make For the World”.
“Our recently launched production-linked incentive (PLI) schemes for mobile manufacturing, pharmaceutical and medical devices are good examples of this focused and targeted approach to attract internationally reputed investors to create capacities with global scales and competitiveness, as well as make India their export hub. According to Moody’s, 154 Greenfield projects from the US have come to India in 2020 compared fewer numbers in other countries. This is a clear indication of global confidence in India’s growth story going forward.
In New India, we have an atmosphere which is conducive for businesses to grow and prosper; “we have the right ecosystem for newer ideas to take root and become the growth engines of the future. Our government is committed to further simplify and rationalize existing procedures and processes to encourage trade, commerce, investments and tourism in the country.
“It is no wonder then that India jumped to 63rd place on the World Bank’s Ease of Doing Business ranking as per World Bank’s Doing Business Report (DBR) for 2020, a jump of more than 70 spaces. This has been made possible by comprehensive reforms in the areas of starting a business, paying taxes, trading across borders, and resolving insolvency,” the ambassador said.
Additionally, the government of India has taken various steps to boost domestic and foreign investments in India. These include the National Infrastructure Pipeline, Reduction in Corporate Tax, easing liquidity problems of NBFCs and banks and policy measures to boost domestic manufacturing.
