Jaitley launches 'Make in India' conference in Sydney

Jaitley also cited the size of the market that India offered


March 30: Jaitley indicated that India has been given a second chance to transform itself into manufacturing hub with 'Make in India' campaign launch. Indian economy was doing well despite global downturns and if the global tailwinds become more supportive, India could perform even better, he said. "Global investors must seriously look at in terms of investing in India," Jaitley said, adding that India has also shown a great appetite for economic reforms. "The constituency that supports economic reforms in India today are far more bigger than the one which obstructs it. India becoming an aspirational society has significantly increased," he said. Jaitley also cited the size of the market that India offered. "Any market that occupies 1/6 of the global population, 35-40 per cent of them in middle class. Its purchasing power increasing by the day. Where else will you get a market of this size," he said, adding that Indian federalism has evolved from being cooperative to competitive. The Minister further assured the investors that tax system in India was also being gradually brought to global standards. Speaking on the occasion, Australia's former trade minister Andrew Robb said Australia had a lots to offer to India in terms of expertise. "As a country, we are 80 per cent services. We can offer environment, power, design, energy, transport and other services," Robb said. Indian High Commissioner Navdeep Suri said the two sides had a strong strategic relationship. -PTI