Friday 23 October 2020

India Ideas Summit: PM Modi invites US to invest in agriculture sector

Prime Minister Narendra Modi, addressing the ‘India Ideas Summit’, said today that the investment opportunity in India was huge. “India invites you to invest in the hard work of our farmers,” he said, a statement that may give sleepless nights to Sangh affiliates like the Swadeshi Jagaran Manch that smells a ‘Monsanto’ in every innovation in the agricultural sector.

In what was clearly a departure also from the ideology of former pracharaks like KN Govindacharya, the prime minister said at the India Ideas Summit, “We all agree that the world needs a better future. We all have to come together and give a better future. I fully believe that the approach to the future should be human-centred.”

Govindacharya has for long advocated eco-centric development as the role model of development in India while struggling to sound different from CPM’s Sitaram Yechury and the Aam Aadmi Party’s Arvind Kejriwal with whom he has been seen sharing the stage with demands to ban FDI in retail and genetically modified crops.

Interestingly, at world forums like the WTO and various climate meets, countries unnerved by the rise of India and China urge the two countries to switch from anthropocentric to eco-centric development too. Much as these developed countries are the greatest culprits when it comes to leaving carbon footprints on Earth and its atmosphere!

India Ideas Summit: PM Modi invites US to invest in agriculture sector [internal image]

While preserving the nature is an unexceptionable demand, developing nations cannot overlook the ulterior motive behind this clarion call, responding positively to which would mean a halt to the development of modern economic tools in the country that was pushed behind by ages when the West transformed itself through the Industrial Revolution in the 18th and 19th centuries.

Organised by the US-India Business Council this 45th year of its formation, the India Ideas Summit is seeing the prime minister of India address not only his countrymen but also the citizens in general and businessmen in particular of the United States.

The prime minister said at the event that he was aware of the fact that domestic capacity of manufacturing needed to be increased and financial institutions strengthened. “Today the world is looking towards India. This is because India is a great blend of openness, opportunities and technology,” he said.

Sharing with the people that the USIBC was celebrating its 45th anniversary this year, the prime minister had tweeted earlier that he would address India Ideas Summit organised by USIBC at 9 PM.

Before the Indian prime minister, US Secretary of State Mike Pompeo and India’s Foreign Minister S Jaishankar had addressed the audience at the India Ideas Summit.

The US-India Business Council was established in 1975 as a business advocacy organisation to increase and encourage investment flows to private sectors in India and the US. This council serves as a direct link between business and government leaders.

USIBC has direct partnerships with major trade associations in India, namely

  • The Confederation of Indian Industry (CII)
  • The Federation of Indian Chambers of Commerce and Industry (FICCI)
  • The American Chamber of Commerce in India (AmCham India)
  • National Association of Software and Services Companies (NASSCOM)
  • The Indus Entrepreneurs (TiE) and
  • Indo-American Chamber of Commerce (IACC)

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