In India, the laborious quest for foreign investment


Indian Finance Minister Nirmala Sitharaman at a G20 summit in Bali, Indonesia in July 2022. POOL/REUTERS

STORY – The country wants to take advantage of the failures of “zero Covid” in China to boost the industry by attracting foreign groups.

Three years into the pandemic, China is still struggling with the coronavirus. The scenes of sick people flocking to hospitals are reminiscent of those experienced in India two years ago. Since then, life has resumed its course at the South Asian giant, which dreams of taking advantage of the Chinese health crisis to attract investors.

The government is doing everything to convince multinationals to set up their factories instead of going to China or Europe , Finance Minister Nirmala Sitharaman said in a speech to the diaspora on January 11. India managed to seduce foreign groups in the service sector from the 1980s. The manufacturing industry has long preferred to settle in East Asia. According to the government, the situation is about to change.

Simplification of procedures

“Products with high added value are now produced in India”, assured Nirmala Sitharaman, citing the example of Airbus. The aircraft manufacturer laid the first stone…

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