Addressing the Bloomberg Global Business Forum in New York on Wednesday, Prime Minister Modi said, India is an ideal destination for investors and offers a golden opportunity to partner with.
Prime Minister Narendra Modi highlighted how India made rapid progress in last five years and invited investors. He said, desires of industry leaders matched the government’s dreams, and combined with technology, talent can change the world.
Saying Digital India, and start-ups are priorities of the government, Prime Minister Modi added that since returning to power, the government has pushed several measures to streamline investment procedures and boost manufacturing. He cited easing of rules like 30 per cent sourcing from India for single brand retailers and legalisation of contract manufacturing to allow 100 per cent investment.
The Prime Minister said, in the coming years, government is going to spend around 1.3 Trillion dollars on modern infrastructure in India and lakhs of crores of rupees are also being spent on social infrastructure. The Prime minister said that four factors make India reliable for investors and makes India unique. These are, Democracy, Demography, Demand and Decisiveness.
Prime Minister Modi said, skills of business leaders and speed of government can increase global economic growth. After the address, the Prime Minister in a one on one conversation with Michael Bloomberg said, for good governance, social media’s role is very important. Prime minister Modi later interacted with over 42 business leaders and American CEOs.
AIR correspondent reports, harnessing investment opportunities in India and boosting commercial linkages between India and USA were at the centre of discussion. MEA spokesperson said, at the CEO Roundtable, steps taken by India to build a 5 trillion dollar economy were highlighted and the global business community was also upbeat about the India success story.