Niti Aayog has said that mobile wallets and biometric modes of payments will replace debit and credit cards in the next three to four years.
"In the last two-and-a-half years, the government has announced several reform measures that resulted in attracting healthy FDI. Our foreign direct investment (FDI) has increased by 60 per cent in the last two years. But FDI across the world has declined by 16 per cent ... India's drive for opening up economy will continue unabated," he added.
Kant also highlighted that India has emerged as the country of low-cost engineering, and global players like Renault and Hyundai are manufacturing cars here and exporting to other parts of the world.