India A Democracy-Loving and Capitalist-Respecting Country: FM Nirmala Sitharaman

New Delhi, October 17, 2019:

Finance Minister Nirmala Sitharaman, during an interactive session at International Monetary Fund’s headquarters, said that India is a democracy-loving and capitalist-respecting country.

She said that foreign investors can find ‘no better place’ other than India for their businesses.

Sitharaman also said that India has a transparent and open society, wherein the rule of law works, while responding to a query as to why investors should allocate funds for the developing country.

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She was speaking at an event organized by the Federation of Indian Chambers of Commerce and Industry or FICCI in association with the US-India Strategic and Partnership Forum.

Sitharaman also said that the government of India needed to understand the expectations of the insurance companies other than complying with their request to remove the cap on its investment.

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The Finance Minister further asserted that the government of India has been engaging with stakeholders on a weekly basis and that there was no trust deficit with corporates and investors.

Speaking on the lines on the current economic slowdown, she said that the government is taking steps to address problems in the ‘stressed’ sectors.

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