India is rapidly emerging as a new global investment destination owing to a conducive environment, shared M Venkaiah Naidu, Union Urban Development Minister while speaking with an investor association delegation. The growth can be attributed to government initiatives taken for ease of doing business, growing economy, the presence of skilled personnel, and improved credit rating.
Naidu shared that there are ample opportunities to invest in India, especially in the urban sector such as Smart Cities Mission which will offer a better return on investment (ROI). These statements were made after the association, which boast of around $ seven trillion investment capital, reached out to Naidu for exploring opportunities to invest.
Naidu added that Centre is already working on ensuring that there is a regular flow of funds to the urban local bodies for carrying out basic infrastructure projects. The Centre has pledged financial assistance of Rs 1.13 lakh crore for urban projects such as Smart Cities Mission, Atal Mission for Rejuvenation and Urban Transformation (AMRUT), and Swachh Bharat Mission (Urban) till 2018-19.
Meanwhile, to attract foreign investments, the government introduced new reforms in foreign direct investments policies (FDI) in 15 key sectors. During the meeting, other initiatives such as value capture financing, credit rating, waste-to-compost, and waste-to-energy were discussed. Naidu requested the delegation for investing in Smart City projects with the government providing the necessary support on the same.