India a preferred destination for inflow of overseas funds

Visakhapatnam: India is an extremely vibrant economy and a preferred destination for the inflow of overseas funds. Unlike China, which has a majority of older population, India is a young country with a bulk of its population being in the working zone. And interestingly, a majority of them is taking towards entrepreneurship unlike before, which is going to highly contribute towards the positive growth of the country’s economy, noted PP Lal Krishna, Chairman of Confederation of Indian Industry, Visakhapatnam and managing director of Visakha Pharmacity Ltd.

During his interaction with members of CII here on Friday, he stated, “The 21st century is called the century of knowledge industry. Hence, the entrepreneurs in our nation should contribute towards creating a better country with a strong foundation for the working population by creating more and exciting employment opportunities.”

Further he mentioned that India has become a preferred partner for global businesses in the areas of research and development, collaborations in the areas of technology and finance across the sectors aimed at manufacturing in India and exports to global markets.

Online gaming and eSports is another great opportunity emerging as key growth drivers of India’s creative economy. India is second to China in terms of number of online games. Visakhapatnam being a major education hub can drive creativity and innovative ideas to gain traction in the gaming world, Lal Krishna opined.

While sharing his views on the impact of emerging technologies, Dr Lal Krishna said the future of work is rapidly changing and is driven by advances in frontier technologies and globalisation.