Fin Min claims Anti-CAA protest have not dampened the mood of investors

Fin Min claims Anti-CAA protest have not dampened the mood of investors

Union Finance Minister Nirmala Sitharaman asserted that the anti-CAA protests and the recent violence in Delhi have not dampened the spirit of investors.

Addressing a press conference here after meeting various shareholders post the Union Budget, Sitharaman said investors whom she met in her recent visit to Saudi Arabia expressed willingness to invest more in India.

"I met several investors... both Saudi and Indian investors there. No one showed any concern. On the contrary, they were willing to invest more in India," she said.

Sitharaman claimed that the companies also explored possibilities for opening representative offices in India, reflecting their willingness to invest more.

"Lots of interest were shown on various projects," the finance minister said.

Asked specifically about protests against the Citizenship (Amendment) Act or the recent violence in Delhi, Sitharaman said, "The sentiment of foreign investors has not dampened at all."

On the possible impact of coronavirus scare on the industry and the economy, she said there is none as of now.

"I have met 20-23 industries and they did not express any anxiety about raw material supply. However, if the situation does not improve in the next two months, there might have been problems of raw material shortage, which we are trying to see how best we can help them out," she added.

On the slowdown of the economy, Sitharaman said the mood is gradually changing and positive signs are seen due to continuous efforts by the government and the RBI together.

"There are green shoots visible. Many of them sustained, while some were revived. Our foreign exchange is at good condition. Though climatic conditions affected onion prices, now it is stable and we lifted the ban on exports.

"RBI announced stimulus package for growth of MSME and real estate. Lending to banks has been made at a lesser rate...," she added.