Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Government of India, in his inaugural address at the National Conference on MNCs organised by Confederation of Indian Industry (CII) today, commended the contribution of MNCs in the Indian economy in terms of technological diffusion, employment generation, skill development and spirit of innovation, among others.

The Minister affirmed that, recognising the immense contribution of MNCs in the growth story of India and with a view to improve the business environment, a plethora of improved policy and business reforms have been introduced by the Government. These include privatisation of Air India, removal of retrospective taxes, reforms in mining and coal sector, and efforts to grow the renewable energy sector. He mentioned that strengthening and promoting partnerships between government and industry is imperative for the introduction of reform measures to combat the issues faced by industry. He opined that low costs and huge market makes India a lucrative destination for the MNCs.

He further mentioned the importance of integrating India’s quality with global standards and the need to purge the mindset of different quality products for domestic and export market. He affirmed the Government’s commitment to help India become a part of the global value chain by introducing several measures that are in the pipeline including FTA with UAE, Interim Agreement with Australia, Working Group with GCC nations, and signing more Mutual Recognition Agreements (MRAs) with a focus at reducing non-tariff barriers.

Arun Goel, Secretary, Ministry of Heavy Industries stated that the government has been working assiduously towards streamlining the business procedures, introducing schemes such as the Production Linked Incentive Schemes (PLI) and enhancing ease of doing business to provide greater opportunities to MNCs in India. He mentioned that leveraging on advanced technologies shall help India in positioning itself as an important nodal point in the Global Value Chains (GVCs). Shri Goel highlighted that while looking at geometric angles to growth there needs to be focus on engineering R&D.

Sumita Dawra, Additional Secretary, DPIIT, Ministry of Commerce and Industry said that for reducing the complexity involved in compliance with business laws, the Centre has been introducing several measures to simplify and expedite the administrative as well as procedural clearances which will benefit the foreign firms. These include the introduction of the National Single Window System and India Industrial Land Bank (IILB). Further, while acknowledging the contribution of MNCs to India’s growth story, she stated that the authorities will be partnering with industry to improve e-governance and investment climate for MNCs.

Mr T V Narendran, President, CII mentioned that foreign investors have indeed proved to be a catalyst for India’s growth trajectory by offering greater employment opportunities, inducing innovation, technology transfer, and bringing in global management best practices which has been made possible owing to the government reform measures aimed at reducing policy, regulatory and infrastructural bottlenecks, while operating on Indian soil. He also appreciated the contribution of MNCs in the domain of Corporate Social Responsibility (CSR) wherein they have added immensely to women empowerment, access to health, environmental improvement, among various other social initiatives. He reaffirmed CII’s commitment to continue supporting the Government in making India an even more attractive destination for foreign investors.

Soumitra Bhattacharya, Chairman, CII National Committee on MNCs and Managing Director, Bosch India mentioned that the strong growth story of foreign companies in India is projected to continue while following the mantra of ‘Make in India and for the World’, as there is increased interest among international investors in the country with the government continuing to implement reforms to improve the business environment. He mentioned that India has become a priority for foreign companies looking to get a bigger share of the international market and they are continuously adopting strategies to expand their footprint in India.

“A wrong image was inadvertently included in the cover page of the advertorial on Uttar Pradesh produced by a marketing department of the newspaper. The error is deeply regretted”

This was an apology issued by the concerned newspaper for an advertisement that was published in its print and electronic editions on the 11th of September, highlighting the development work done by the Uttar Pradesh Government. Unfortunately, the image of the flyover shown in the advertisement was not from UP. As it was later discovered, it was from Kolkata. It was yet another 9/11 when the earth had shaken. It also shook the remnants of the fourth pillar of Indian democracy.

Yes, this was a huge faux passe but why did the newspaper issue an apology? And, that too a newspaper that had made name for itself in taking on the Emergency during the 1970s?

The protocol for an advertisement is very clear. The newspapers only publish the advertisement. The advertisement itself is provided by the client or created by an advertisement agency on behalf of the client. No advertisement can be published without the express approval of the client even if it is created by someone else. The editorial section of the newspaper has no role to play whatsoever.

The apology by the newspaper raises a large number of questions. The credibility of the media has taken a severe beating. In a recent survey carried out by me on the Twitter, I had a question, “According to you, which of the following institutions is carrying out its responsibilities in the best possible manner?”

1. Civil Servants

2. Judiciary

3. Politicians

4. Media

Of more than 3000 participants, 65% voted in favor of Civil Servants, 22% for Judiciary, Politicians 9% and Media was last with 5%. Episodes like the one under discussion will erode the credibility of the media even more. Most of the television channels had lost their credibility long ago. They are seen as aligned and/or promoting (some very aggressively) the agenda of a particular segment. There is hardly any news on these so called “news channels”. They are now seen and perceived as promoting particular views. Many treat them as entertainment channels. Perhaps rightly so. All objectivity has gone for a toss.

In a recent survey carried out by me on Linkedin, as many as 62% voters felt that in comparison to TV news, social media and digital media, newspapers provided the most reliable news. Newspapers still carry some credibility even though in some of the newspapers you have to wade through first few pages of advertisements to discover the page carrying news. Perhaps the huge dependence on advertisement revenue has impacted the quality of news reporting in the newspapers as well. This also largely explains the apology by the concerned newspaper. A newspaper that could take on a powerful Central Government during the time of emergency now succumbed because perhaps it could not take on a not-so-powerful (??)state government. Only time will tell whether the editorial content of the newspaper will or will not be impacted. The newspaper in question was one of the few leading National dailies, at least till a few years ago, where one could look at objective presentation of news. It will indeed be a pity if there is a climb down. I had personally given up watching television news channels long ago because it appeared that only decibels determined TRP ratings (though the TRP ratings have also been questioned). Soon thereafter, I gave up reading newspapers as well as it was becoming increasingly difficult to find news in newspapers. The last newspaper that I subscribed was this one because it provided news and balanced views. Hence, the apology by this newspaper came as a surprise. I am sure there must have been compulsions to do so.

Now, where does the news-hungry reader/viewer go? Social media emerged as an option. It provided limitless choices. The internet came handy. In fact, it also provided an opportunity for a two-way communication and in some ways pretty fulfilling. However, here too, manipulation started. There is now an information over-load. Worse is the increasing prevalence of fake news, most of which is being peddled as genuine one. Technology has enabled photoshopping and manipulation of images that can be extremely damaging socially and morally. It is free for all there and extremely difficult to regulate.

Another disturbing development in the social media has been the role now being played by organized troll armies. The language being used is becoming worse by the day and in many cases abusive.

Comparatively speaking, newspapers still have a sense of responsibility and accountability unlike the social media. Hence, it is still way ahead of visual media as well. The reader still has a lot of faith in the printed word even though it is eroding gradually. Hence, when events like the one that happened to this newspaper happen, it shocks the sensibilities of those that still believe in the mainstream print media. The reader would still like to believe that this part of the crumbling fourth pillar will still hold on, hold on to sustain Indian democracy.

A newspaper that could take on a powerful Central Government during the time of emergency now succumbed because perhaps it could not take on a not-so-powerful (??)state government. Only time will tell whether the editorial content of the newspaper will or will not be impacted.

Even as we were celebrating Diwali in India last week, something incredible was happening in our neighbouring country Pakistan. What happened was beyond imagination because it can’t be imagined in a fundamentalist country like Pakistan! Quite surprisingly, the Chief Justice of Pakistan Gulzar Ahmed visited Teri village in Karak district of Khyber Pakhtunkhwa province to participate in the Diwali celebrations organised at the historic ‘Samadhi’ of Hindu saint Paramhansji Maharaj. He was invited by the Pakistan Hindu Parishad. In a democratic country, all this would have been considered perfectly normal but in Pakistan the fundamentalists became uneasy with it.

The visit of the Chief Justice to the temple is considered to be a significant step against the fundamentalists and it sends out a strong message to them as it is the same temple which was vandalised and set afire last year by a furious mob led by a local Maulvi. The destruction of the temple was widely criticised all over the world and the question arose as to why such treatment was being meted out to the minority Hindu community? The government had maintained discreet silence about this incident, but Chief Justice Gulzar Ahmed himself took cognisance of the incident and took a very strong stand. He ordered the government to rebuild the temple and recover the amount of `3.3 crore required for its restoration from those who attacked it. The government at first adopted a policy of apathy but due to the unsparing stand of the Chief Justice, it had to bow down and the rioters were penalised and losses recovered from them. As many as 109 people were arrested and 92 policemen including the SP and DSP were suspended. It may be recalled here that when Imran Khan took over, he had assured that he would get the temples renovated and the interests of minorities would be protected at any cost. The assurance notwithstanding, the temple was attacked and Imran could do nothing.

The Chief Justice even allowed the Hindu community to expand the temple and said the government will help it. But the government secretly accepted the diktat of the fundamentalists of that village that the Hindu community would no longer buy any land for the temple and that no big event would ever take place there!

By visiting the temple to participate in Diwali celebrations, the Chief Justice has sent out a loud and clear message to both the government and the fundamentalists that the rule of law will prevail at any cost. While ordering recovery from the accused, the Chief Justice observed that the rioters would keep attacking the temple until recovery was made from them and directed the administration to recover every rupee from them. It may be noted that this temple was attacked in 1997, too. While addressing the inaugural ceremony at the rebuilt Shri Paramhansji Maharaj temple on the occasion of Diwali, Chief Justice Gulzar said the Supreme Court has always taken steps to protect the rights of minorities and it would continue to do so in the future. He highlighted that Pakistan is run and will be run in accordance with the Constitution which provides for equal rights for all religions and stressed that everyone’s holy places need to be protected.

This reassuring statement of the Chief Justice while inaugurating the reconstructed temple comes as a major message for the fanatics in Pakistan. The message for the government which always bows before the religious hotheads is also amply clear that it needs to protect the minorities which is its duty under the Constitution. The Chief Justice also said that whatever he did was his responsibility as a judge. With this strong message, he underlined that the judiciary of the country is equal for all. It is the duty of the judiciary to protect the interest of every citizen.

I look upon the stand that Chief Justice Gulzar Ahmed has taken as bold and liberal. The boldness of Chief Justice can be gauged from the fact that when Imran Khan’s government negotiated with the Taliban, the killers of hundreds of children, he ordered Prime Minister Imran Khan to appear before the court. I believe that this kind of stand of the Chief Justice will strengthen the confidence of the common man in the judiciary. The government as well as the local administration there is so weak that it is not able to contain the fundamentalists. Religious bigotry is a serious issue in Pakistan which has made it difficult for the beleaguered, marginalised and persecuted minorities to live. Islamic fundamentalism is on the rise and persecution of minorities is the undeclared norm. Statistics from Pakistan show that every year more than one thousand girls of a minority community are converted. In many cases, the girls are first abducted and later they are presented in court with the confession of conversion. The courts there too have expressed doubts on such conversions many a time. Actually the parents of the girls are unable to speak out of fear of being harmed.

The blasphemy law embedded in the Constitution of Pakistan has proved to be an effective weapon for the fundamentalists there. If a person accuses anyone of blasphemy, it becomes difficult for him to escape the law and public fury. Statistics show that in the last 30 years, more than 70 people were lynched by a mob on charges of blasphemy. There are at least 40 such people who are awaiting death or have been sentenced to life imprisonment on charges of blasphemy. This number would have been even higher had the Supreme Court not been alert! Usually punishment is pronounced in the lower courts but the high courts acquit most of the accused.

In view of the prevailing situation, can it be assumed that the action of the Chief Justice will make any difference in Pakistan? It is difficult to say because there is very little hope for the country which uses religion as opium to control the masses. One should only hope that the courts keep cracking down on the fundamentalists so that minorities do not have to bear the brunt. I beseech Allah Taala to keep Chief Justice Gulzar Ahmed safe and sound.

And of course, as an Indian, I wish my neighbour well as there is an old saying that you can replace everything but not your neighbour! It is our responsibility to bring the neighbour on the right track and make him better, but the neighbour should be willing too to set his own house in order!

The author is the chairman, Editorial Board of Lokmat Media and former member of Rajya Sabha.

The measure taken by the Chief Justice of Pakistan Gulzar Ahmed to ensure the equality of all religions is a difficult task to imagine, at least in Pakistan. It is indeed a courageous move by the Chief Justice to get the razed temple reconstructed and be a part of the Diwali celebrations there.

The world has changed significantly over the years, but one technology that has made the greatest impact is Artificial Intelligence (hereinafter ‘AI’). The use of AI in business, governance, healthcare, education, etc has been a subject for lengthy discussions. However, there is one domain in which the use of AI has been rather limited across the world more specifically in India is ‘diplomacy’. In the international order, the fourth industrial revolution has not just transformed the philosophical foundations of statesmanship at the macro level but also transformed the way international actors interact. Of the many related technologies that industry 4.0 has bolstered, AI has accelerated a paradigm shift in the world of policymaking, global governance and diplomacy in the world of geopolitics.

Digital technology has been said to be revolutionary for the future of humanity and rightly so given the potential it has already exhibited. AI has the potential to open doors for new opportunities for international and bilateral cooperation, but also to reinforce the role of the emergent state and non-state actors within the global governance framework.

This intersection of diplomatic doctrines and digital platforms is re-formulating and re-structuring the modus operandi of the integration process of digital intelligence with the traditional diplomacy in the domain of global politics. This integration process has also bridged the gap between governments, civil society and technology incorporations. Like India has its representatives in other countries through foreign missions/embassies and the said missions use AI to increase their working efficiency.

India also partakes in bilateral or multilateral commitments on AI technology sharing. In these areas, India is proactive and it can be categorised as the quest for geopolitical power and can be termed as the macro-level use of AI. Thus, the importance of AI in diplomacy and foreign policy is acknowledged by the Indian State, hence, it has taken some steps in this direction at the micro-level. In order to understand AI and diplomacy, one must understand the distinction between micro and macro level use of AI as it requires different degrees of capital and both are meant for performing a completely different set of tasks.

The interlinking of digitalization and artificial intelligence mandates the formulation of a new multidisciplinary and mixed-methods approach to study its impact on society. Purely from the lens of international relations, AI as a diplomatic tool is used to build trust among the key stakeholders in conflict resolution via the use of impartial procedures. However, from a legal lens, issues of the malicious use of artificial intelligence, cyber security, and data sovereignty have yet not received worthy attention. There is a need to analyse the inter-disciplinary component and power struggles in international diplomacy which inherently limits the scope of AI application.

The AI technology is used for simple and mundane tasks which the diplomatic missions have to undertake as part of their objectives. The missions have to issue certain travel-related documents which are pre-requisites for international travel such as passports and visas. These missions have used AI to expedite the whole process which has made life easy for those applying as well as those who are required to issue said documents.

There is also an underlying benefit that is derived by using AI which can be understood with the help of an example. India has its embassy in Kenya and the said embassy uses AI to process the applications for travel documents and because of the automated nature of AI, every application’s data is stored and collated systematically. There is a breakout of a civil war in Kenya and many people want to flee the country for obvious reasons it subsequently leads to a surge by 100 times in the number of applications seeking a visa to India for refuge. This trend is noticed courtesy of the AI and its data processing skills, now the AI will help the Indian Embassy to filter out all the applications which are dubious and fraudulent effectively only allowing genuine applications to go through. This meant that AI helped the embassy in times of a crisis and also there was no compromise on the quality of the work done by the embassy. This is the use of AI at the micro level for diplomacy.

Apart from performing mechanical tasks through the embassy the diplomats also need to partake in problem-solving exercises in real-time as and when a situation develops for which AI can be of great aid. An example would be the delegation of India is at the UNSC and certain unforeseen and tragic events happen in some part of its neighbourhood and all the member nations at the UNSC decide to set the agenda as discussing the said situation now this would put the Indian delegation in a tough spot because they are not aware of the ground reality and the situation is just developing so the Indian government can only send in a limited amount of information across.

In this case, if there were to be an AI program that could build a model of the said situation and predict the possible desirable outcomes out of the situation it would open a new dimension of problem-solving as well help the diplomats to be better prepared for the discussion entailing this situation and also take charge of the international narrative surrounding the situation. This is the use of AI at the macro level and this is where heavy capital investments are the need of the hour. India has been considering this option, however, there is a long way to go.

The micro-level use of AI is laudable but at the macro level, a lot needs to be done to fill the gap in knowledge as well as practice. In the present time, there is a need to explore the possibility of the interplay of artificial intelligence and cyber diplomacy, social media and artificial intelligence as tools for digital diplomacy.

Adithya Variath is a Researcher at Maharashtra National Law University Mumbai & Deep Dighe is an Advocate practising at the High Court of Bombay

Geopolitical conflict amongst the oil-rich countries of West Asia and the U.S. is one of the most complex and dynamic situations in the world. The recent war with the Taliban, the killing of Saddam Hussain, assassination of Maj. Gen. Qassim Soleimani of Iran’s Islamic Revolutionary Guard Corps by an airstrike conspired by the U.S. government has led to various implications on trade, economics, foreign relations including a hike in gold prices, unstable oil prices, maritime security and most frightening the awful death of several civilians.

The Persian Gulf countries including Iran, Iraq, Kuwait, Saudi Arabia, UAE, Oman and Qatar share common passage for seaborne traffic. The strait of Hormuz, a channel situated between the borders of Oman and Iran, is one of the significant waterways that link crude oil producers in the Middle East with the rest of the world. It bears approximately 30% of the world’s seaborne oil traffic.

These countries have a long history wherein they have shared friendly ties and had been at loggerheads with each other. One of the reasons for such restrained relations could be attributed to hunger to dominate the neighbouring oil-rich country or to become the supreme power. Having said that, the interference by the U.S. or the presence of the U.S. Army in Iraq, Afghanistan and Syria had also played a significant role in increasing the tension.

Iran was also a close ally of the U.S. until 1979 when the Iranian revolution happened and Shiite led Islamic group overthrew Shah Mohammad Reza. The new group in power in Iran kept American Embassy staff hostage in Tehran for around 445 days, which further deteriorated the relations between U.S. and Iran. Further tensions grew between them because of other events including Iran building its nuclear weapon base and the U.S. becoming more friendly with other countries of the Middle East.

Once again a terrible situation has arisen in Afghanistan because of the alleged reckless foreign policy by the U.S. which demands the international community to ensure world peace, the safety of people, maritime security etc.

What could happen if every other country becomes destabilize? The unnecessary airstrikes by the U.S. now and then could lead to severe retaliation. Such acts of aggression amount to a breach of security and sovereignty.

Right after President Ashraf Ghani absconded from Afghanistan; the Taliban expressed their intention that they would not want U.S. troops in their territory and demanded transfer of power to avoid bloodshed. The entire transition of power looked like a cakewalk as no resistance was witnessed from the Afghan military. It is beyond a reasonable man’s understanding that how 20 years of training of Afghan military by the U.S. military mingled in the soil in seconds.

Surprisingly, some press conferences were held wherein Talibanis were seen occupying President’s office along with some of Afghanistan’s government officials, supposedly, for the transfer of power.

On the contrary, the Afghan citizens who have been protesting against the government were seen panicking at the airport. Some devastating videos of people falling from the aeroplane were also aired. These protestors have raised concern over the increasing exploitation of women and children by the Taliban.

The larger concern is the broader geopolitical conflict between the U.S. on one side and countries like Iran, Iraq, Afghanistan, Pakistan, Russia, and China on the other side. So far, India’s stance has not been pro-Taliban but pro-Afghans because of our history with them including the involvement of the Taliban in the Indian Airlines Flight 814 hijacking.

Having said that, India has not declared the Taliban as a Terrorist organization so far, neither has the U.S. The U.S. recognizes the Taliban as an insurgency, a revolutionary group, instead of a terrorist organization due to political reasons.

India has often expressed its concern over the violation of fundamental rights of Afghans and has requested the world community as well as the security council to ensure an immediate cessation of violence and address humanitarian and security issues. India’s ambassador to the UN, TN Tirumurti also highlighted the concern over the ongoing development projects in Afghanistan provinces in power, water, road, healthcare etc.

Russia, China and Pakistan seem to have made their stance clear and showed their willingness to involve in talks with the Taliban. While the whole debate has now shifted towards the issue of recognition or non-recognition of Taliban as a legal government, the larger concern of interference by the so-called superpowers in the territory of other countries in the wake of fighting terrorism needs utmost attention.

Also, the fact that how so many arms and ammunition are being produced and sold by the super powers to these countries which in turn is used for terrorism. Why are such discussions not happening in UN?

Given the situation now, time will tell whether U.S. will continue to get cooperation from Iraq following the chaotic and severe situation created by the U.S. in Afghanistan? Iran may also be able to influence Iraq to push the U.S. troops out of Iraq.

The US has been instrumental in destabilizing Iraq and Iran as well. The assassination of Qassim Soleimani in February 2020 by the US led to severe criticism and chaos. Similarly, during the sudden evacuation of US troops from Afghanistan, people from several other countries living in Afghanistan were exposed to the likelihood of injury or maybe death.

Isn’t it a reckless foreign policy of the U.S. led government, which have left the whole region in chaos? The incessant airstrikes, bombings have left Afghanistan into a cemetery.

The entire situation highlights the inability of the UN or UNSC in maintaining international peace and security and finding diplomatic solutions.

The heightened tension in the region would also have repercussions for India. India is exposed to several risks including security issues from Pakistan since it is believed that Pakistan might infiltrate into Kashmir with the Taliban’s support. The ever-increasing challenge of accommodating refugees is another challenge that needs global attention.

India is not a signatory to the 1951 Convention on Refugees or the 1967 Protocol Relating to the Status of Refugees unlike other nations such as the US, EU. Although India does not have an official refugee policy, it has given refuge to many Afghans [during the Soviet-Afghan war (1979-1989), the Afghan Civil War (1992-96), during the Taliban rule (1996-2001) and recent Taliban rule (2021).

According to UNHRC data for 2020, the total number of refugees from Afghanistan globally is roughly 28 lakh of which India has the 12th highest number of Afghan refugees. Currently, the exact figure is not clear but as per few media reports, the Afghan diaspora in India is close to 8,00,000 registered refugees and at least two million more who are unregistered. Recently, a lot of media reports and videos have circulated wherein Afghans living in India for years have expressed their concerns of economic difficulties, not finding adequate jobs, no promising future and unstable life.

Many Hindu and Sikh Afghans have also been evacuated from Afghanistan, which is seen as a political move to gain Hindu and Sikh votes. Many believe that the controversial Citizenship Amendment Act (CAA) makes it impossible for Afghan refugees to acquire Indian citizenship because, under the law, Citizenship would be expedited for Hindus, Christians, Sikhs etc. only from neighbouring countries like Afghanistan, Pakistan and Bangladesh.

Another concern is the investment India has made ininfrastructure projects in Afghanistan. The Afgan Parliament house was financially supported by India for $90 million, there are numerous other projects including irrigation, dams, highway and building projects in total costing approximately $3 billion, India happens to be the largest regional donors to the country.

A stable West Asia is important for our energy (oil and gas) needs. With Indian investments in Afghanistan as well as in Iran such as the Chahbahar port and Farzad B gas field, it would become important to balance our strategic autonomy with the increased U.S. threat of sanctions. The key lies in maintaining our principled stand of non-intervention in internal affairs of other nations, along with looking for a peaceful settlement of dispute. The time has come to meticulously watch every developed nation’s step

The Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal today said that COVID-19 highlighted that supply chains should not only be based on cost but also on trust. He opined that ensuring transparent, trustworthy and resilient supply chains is at the core of trade revival and added that India emerged as a source of resilience and a trusted partner during COVID-19.

He was delivering the “Keynote Address at Bank of America’s flagship Virtual Conference on the topic “Shifting supply chains globally: Could Make in India see success?”, from New Delhi today.

The Minister said that supply and demand disruption brought on by the COVID-19 pandemic have forced manufacturers everywhere to reassess their supply chains. He added that India demonstrated its capacity and capability to the entire world by not only meeting all our international service commitments but also by becoming self-sufficient in production of critical medical supplies (PPEs, testing, masks).

Referring to India’s Pharmaceutical industry, Piyush Goyal said that we are widely recognised as the “Pharmacy of the world” for providing medicines and vaccines to most countries in the world. Speaking of India’s success in implementing the largest vaccination drive in the world, the Minister said that with a plan to manufacture 5 billion doses of vaccine next year, India was aspiring to serve and secure all of the humanity.

Pointing towards the rising economic indicators, Goyal said that India is back in action and the decade is shaping up to be a growth decade, with our exports surging and FDI in-flows and investments following a high growth trajectory. He said that trade must grow in a mutually beneficial and collaborative way.

It may be noted that our Merchandise exports in Apr-Oct 2021 was $ 232 bn (+54% over Apr-Oct 20 & +25% over Apr-Oct 19) and total FDI during the first 4 months of FY 21-22 is 62% more than that of the same period in FY 20-21. India now has 71 unicorns of which 67 were added since 2015.

Goyal said that the Naukri Jobspeak Index for Oct’ 2021 reports a 43%

growth in employment over the same month last year and manufacturing PMI rose to 55.9 in October and service PMI reached a decade high of 58.4 in October. He opined that India has gained trust of global investors, with its investor friendly policies, removal of redundant laws and approvals through single window.

Underscoring India’s strengths as a supply chain alternative, the Minister said that India has a diverse business landscape, skilled workforce and relatively low labour cost. He spoke of India’s ambitious National Infrastructure Pipeline project and said that the new PM GatiShakti Master Plan would lend new life to India’s infrastructure planning and eventually help in reducing logistics cost to 5%.

He stressed that global sentiments are changing from ‘Why India’ to ‘Why not India’ to now “Make in India for the world’ and serving the world from India. “India’s time has come”, he added. He invited the world to ‘Come to India, Invest in India and Make in India, for the world’, and be a part of a large ecosystem of resilient supply chains.