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Sinha asks Indian industry to invest abroad

External Affairs Minister Yashwant Sinha has urged Indian corporates to invest abroad in a big way, despite the lure of the vast domestic market.

"Go out. Go beyond exports. Go into investment," Sinha told a session last night of India Economic Summit, organised by the World Economic Forum and Confederation of Indian Industry.

He asked Indian businessmen to emulate the example of China.

Despite a huge domestic market, Chinese businessmen did not become prisoners of the domestic market by constantly exporting to and investing abroad, he said.

''Let's give up our hesitation and let's venture out and forth.

"That will completely change the outlook for all of us," he said, speaking on 'Geopolitical Uncertainties.' Internationally, Sinha said, India's goal should be to promote development and in this regard cited the example of India's grants worth 100 million dollars to Afghanistan.

Sinha refused to get into a debate of any kind on Pakistan.

"Pakistan is important. But it is not central. I have been saying that we should spend minimal amount of time discussing Pakistan. I feel diminished as an Indian, when India is compared to or spoken about the same manner as Pakistan," Sinha said.

UNI

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