Arun Jaitley asks Australia's Super, Future funds to invest in India
SYDNEY: Inviting Australian businesses to "invest and make in India", Finance Minister Arun Jaitley on Wednesday said sectors like railways, defence and manufacturing now offer huge scope for foreign investments with liberalised FDI norms.
"India could manage to become a very lowcost service provider but failed to transform into a lowcost manufacturing", Jaitley said here, adding there is an opportunity now for the same.
Launching 'Make in India' conference here on the second day of his four-day visit to Australia, he invited Australian businesses to be a part of India's growth story.
Separately during a bilateral meeting with Australian Foreign Minister Julie Bishop, Jaitley said there is a lot of scope for foreign investment in India in sectors which have now been opened for FDI