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"Want to invest in urbanisation, come to India" says Modi at Global Business Forum

By Vishal S

New York, Sep 25: Asserting that the mandate for his government was for development, Prime Minister Narendra Modi on Wednesday highlighted the steps taken by his government to create a business-friendly environment in India.

Prime Minister Narendra Modi today delivered the keynote address at Bloomberg Global Business Forum in New York. Speaking at the Global Business Forum, the Prime Minister said India offers a golden opportunity for investment in the country.

Prime Minister Narendra Modi

"If you want to invest in a market where there is scale, come to India. If you want to invest in one of the largest infrastructure ecosystem and urbanisation, then come to India," PM said.

Modi further told the gathering, comprising 50 heads of state and 200 CEOs, that India is rapidly modernising its cities, and equipping them with latest technology and citizen friendly infrastructure.

Modi further told the gathering, comprising 50 heads of state and 200 CEOs, that India is rapidly modernising its cities, and equipping them with latest technology and citizen friendly infrastructure.

"Thus if you want to invest in urbanisation, come to India," he said.

Highlighting the advantages of doing business in India, the prime minister said India not only offered economy of "scale" and one of the largest "infrastructure ecosystem" but it also had a government that was working towards improving the business environment in the country.

"Let me tell you, the new government is only three-four month old. I want to assure that this is only the beginning. Still there is a long way to go. In this journey we want to partner with the global business community. This is a golden opportunity for you," Modi said.

India is aiming to become a USD 5 trillion economy by 2024-25. The Prime Minister said USD 1 trillion has been added to economy in 5 years and the target is to make the country a USD USD 5 trillion economy. Modi also said that 120 GW out of 175 GW renewable energy target has been achieved by India and the country was targeting 450 GW in near future.

He said India received USD 286 billion foreign direct investment in last five years, which is half of what it got in previous 20 years. Modi said democracy, political stability, predictable policy, independent judiciary guarantee investment.

Here are the highlights from PM Modi's speech from Bloomberg Global Business Forum:

"The 4 factors that makes India reliable for investors and makes India unique are-Democracy, Demography, Demand and Decisiveness."

"Friends, your desires and our dreams match perfectly. Your technology and our talent can change the world; Your scale and our skills can speed up global economic growth."

"India has now set the goal to make the country a 5 trillion dollar economy. To achieve this big target, we have capability, courage as well as the conditions."

[Trump dwells on trade with India, sidesteps questions on Pak, terrorism]

"our prudent method and our pragmatic mind can write new stories in management;Your rational ways and our human values can show the path which the world is looking for. And if there is any gap anywhere, I will personally act as a bridge."

During a question-answer session after addressing the Bloomberg Global Business Forum here, Prime Minister Modi said he was active on social media.

"Social media has become a powerful instrument of democracy. It's encouraging to see established media take up initiatives to counter fake news."

Modi said he was in favour of using the social media as a "good weapon" for good governance and he himself is trying in that direction. Modi also said that people should first check when they receive a news on social media before forwarding it to others.

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