India needs to attract investors exiting China
'Global investors have decided to leave China now, and the only country which has the capacity to digest this exodus is India, says Maha DyCM Fadnavis
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Aurangabad: Maharashtra Deputy Chief Minister Devendra Fadnavis on Sunday said India should be ready to attract industries exiting China, as global investors have realised they "cannot put all eggs in one basket".
Addressing the valedictory session of the Advantage Maharashtra Expo here, Fadnavis said there was an "exodus" of industries from China, which was the "factory of the world", with about 40 per cent of manufacturing globally done there. Fadnavis also said that the Eknath Shinde-led Maharashtra government has cleared investment proposals worth Rs 90,000 crore in the last six months. ''Global investors have decided to leave China now, and the only country which has the capacity to digest this exodus is India. We need to attract them, as investors have realised they can't put all their eggs in one basket," the deputy chief minister said. This is an opportune time and "we have to be ready," he said.
Despite recession, India is growing at 7 to 8 per cent because of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi to make India self-reliant, Fadnavis said.
