Consensus at all levels of Government on leading role of the private sector: Rajnath Singh at Global Investors’ Meet in Bengaluru
11 FEB 2025 5:55PM by PIB Delhi
Raksha Mantri Rajnath Singh has urged global investors to go long in their Indian investment plans. Speaking at the inaugural function of the Global Investors’ Meet organised by the Government of Karnataka in Bengaluru today, Raksha Mantri said that investors will benefit from India’s formidable strengths like political stability, huge marketing potential it offers and an ecosystem based on rule of law, free from uncertainty and disorder. He noted that India’s immense investment potential has witnessed sustained success, lasting impact and enduring growth.
“If as an investor, you seek world-class infrastructure, Karnataka is now offering next-generation infrastructure facilities. If you require skilled human resources, Karnataka stands out with its highly talented and future-ready workforce,” said Rajnath Singh.
Raksha Mantri added that the world has moved beyond the era of IT and software, and stepped into the age of Artificial Intelligence (AI). He exuded confidence that just as Bengaluru gave India its software technology foundation, it will soon provide the nation its first Foundational AI Model.
Rajnath Singh asserted that by investing in Karnataka, one is not just gaining access to the state’s resources, but also to the strength of the nation, standing with Karnataka. “India’s economic ecosystem is deeply integrated, which means investing here gives you access to the country’s vast and diverse resources. When you invest in Karnataka, you are not just investing in one state, you are tapping into the collective strength of India’s vast resources, and a colossal talent pool,” he said.
Raksha Mantri highlighted Prime Minister Narendra Modi-led Government’s efforts towards addressing the challenges that investors previously faced. “The cumbersome process of obtaining multiple clearances has been replaced by a single-window system, ensuring a faster and hassle-free experience. Beyond the streamlined processes, investors also need a strong market demand for their products,” he said.
Rajnath Singh added that several recent economic decisions are expected to further strengthen the demand environment. “On one hand, the Reserve Bank of India has reduced the repo rate from 6.5%to 6.25%, making borrowing more affordable. On the other hand, the Government has introduced a massive income tax cut, in this year’s budget announcement. Now, individuals earning up to Rs. 12 lakh annually, are completely exempt from income tax. This significant tax relief will substantially increase the disposable income of our people,” he said.
On policy uncertainty, Raksha Mantri emphasised that, today, across all levels of governance in India, including the Central Government, State Governments, and local bodies, there is a broad consensus that sustainable economic development must be driven by a market-led economy, with the private sector playing a leadership role. This shared commitment provides a stable and predictable policy environment, ensuring that businesses can invest with confidence of policy continuity, he said.
Rajnath Singh stressed that India no longer presents red tape to investors, instead red carpet is rolled out for them. This kind of cross-political party consensus on promoting investment plays a crucial role in reducing uncertainty for our investors, he said.
Raksha Mantri also mentioned that India is in the era of Cooperative Federalism, where everyone works with the true spirit of Team India. He gave the example of GST framework, in which representatives from both the Central and State Governments come together to collectively decide tax rates through consensus. This is a testament to how the Central and State Governments are collaborating to shape the country’s economy, he said. Rajnath Singh told the investors that by investing today, they are not only unlocking new avenues for your own success, but also contributing to the economic growth of Karnataka, and the nation as a whole.
Chief Minister of Karnataka Siddaramaiah, Union Minister of Consumer Affairs Pralhad Joshi, Deputy Chief Minister of Karnataka DK Shivakumar, Ministers of the state government and industry representatives were also present at the event.
