New Delhi: Investors are once again flocking to India as they find the economy all set to turn buoyant, said Finance Minister Arun Jaitley, speaking at the 29th India Summit of the World Economic Forum (WEF) in the capital on Wednesday.
The 3-day summit which began on Tuesday assumes significance in the background of the theme of the annual conference ‘The Reshaping of the World’. Profound political, economic, social and, above all, technological forces are transforming our lives, communities and institutions. Rapidly crossing geographic, gender and generational boundaries are shifting power from traditional hierarchies to networked heterarchies.
Yet the international community remains focused on crisis rather than strategically driven in the face of the trends, drivers and opportunities pushing global, regional and industry transformation.
There is a return in confidence that India will once again be a place to invest in, Jaitley declared.
Talking on the retrospective taxation policy, he said that it was a bad idea and undoing is not enough. However Jaitley maintained that no steps will be taken to give contrary signals.
A number of Union ministers will interact with foreign and Indian investors at the summit, the first such event after the Narendra Modi government came to power. They include Nitin Gadkari, Ravi Shankar Prasad, Piyush Goyal, Nirmala Sitharaman, and Smriti Irani.
More than 700 leaders from business, government, civil society and academia from 45 countries will take part in the summit, organised by WEF in partnership with industry body CII.Â