$100 bn investment waiting for Indian Visa: PM

SansadTV Bureau

Modi_Summit2Prime Minister Narendra Modi said on Thursday that USD 100 billion worth of foreign investments is knocking at the doors of India and it is up to the states to lap up as much as they can.

Describing his ‘Make In India’ initiative a “win-win” proposition, Modi said that the foreign investors should not treat India merely as a market, but should focus on turning it to a manufacturing hub with a view to increase the purchasing power of Indians.

“USD 100 billion investments from Japan, China and America have applied for visa. Now it is turn of the states to capitalise on the opportunity. The roads are wide open. The states which are ready can walk away with major share,” he said while inaugurating the Global Investors’ Summit.

“When we talk about Make in India, then we want to create confidence in the world that there is a huge investment possibility in India. Please do not consider India only as a market. . . . dump goods, sell them and make profits”.

PM Modi said value addition in agriculture and focus on infrastructure will help the farmers immensely and asked the industrialists to add value to agro products. Madhya Pradesh accounts for 40 per cent of the organic farm produce in the country.

“In manufacturing sector, we should give impetus to products which can be exported,” he said, adding the country needs to prepare a global talent pool to take advantage of the experience and expertise of the NRIs.

PM Modi also invited investments under Public Private Partnership (PPP) model in skill development with a view to bridge the gap between demand and supply of persons of specific skill sets.

Emphasising on the Centre-State partnership, the Prime Minister said that states should rise above narrow political considerations on development agenda and Centre will extend all possible assistance to them.

“Centre and states are not rivals or enemies. . . Centre will stand shoulder to shoulder with all states, irrespective of political affiliation, to facilitate economic growth,” he said.

Ambassadors of 28 countries were present at the summit – which also has nine partner countries.

The meeting is being attended by industry bigwigs including RIL Chief Mukesh Ambani, ADAG’s Anil Ambani, Adani Group head Gautam Adani and Tata Group chief Cyrus Mistry.