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In New York, PM Modi tells American investors a 'golden opportunity' awaits in India

PM Modi showcased India's roadmap to becoming a $5 trillion economy. The event was attended by hundreds of CEOs and heads of states. He held a roundtable with 42 CEOs of top global companies. Photograph:( ANI )

WION New York Sep 25, 2019, 08.08 PM (IST) Written By: Sidhant Sibal

Urging American investors to partner with India, Indian Prime Minister Narendra Modi on Wednesday listed out the reforms that his government undertook to boost the confidence of the business community in the country.

Speaking at Bloomberg Global Business Forum, Indian prime minister said" Today India is in a unique opportunity where rapid growth enables us to diverse demand..our people are rapidly defeating poverty and moving up the economic ladder..."

"If you want to invest in a market where there is scale, come to India...We are rapidly modernising our cities, and equipping them with the latest technology and citizen-friendly infrastructure. Thus if you want to invest in urbanisation, come to India," he added.

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Several tax reforms including the introduction of GST and Jan Dhan Yojna, which aims to increase the number of bank accounts for the common man, presents a "golden opportunity'' to investors, Modi said. 

''We have a government that respects the business world and wealth creation," Modi said and added qualitative and quantitive leap in India growth story and the aim is to make it a $5 trillion economy for which India has "capability, courage and conditions", he further said.

India has jumped in several global rankings due to the reforms by the Modi government. 

New Delhi jumped 10 ranks in logistics performance index, 24 in the global innovation index and improvement of 65 ranks in World Bank’s Ease of Doing Business Index.

Modi also pitched for India's nuclear supplier group or NSG bid which is a hindrance to India's growing energy need. He said "We have one challenge still. The challenge of nuclear energy. Because we are not a member of NSG, we face issue on the supply of fuel. If we get a solution on that front, then we can come out as a model."

Modi also highlighted India's climate action plans which aim to increase the share of the renewable component in overall energy basket.

Story highlights

Several tax reforms including the introduction of GST and Jan Dhan Yojna, which aims to increase the number of bank accounts for the common man, presents a "golden opportunity'' to investors, Modi said.