PM invites investments, technology to India

RSTV Bureau

mod_franceiProjecting India as a land of “immense opportunities”, Prime Minister Narendra Modi on Sunday invited investments and technology from across the world, saying it will be beneficial for the entire globe.

He specifically mentioned defence, urban development, railways and healthcare as some of the sectors where the world could look at India as he cited liberalisation in norms like raising the cap for foreign investment in insurance to 49 per cent and 100 per cent in certain segments of railways.

Modi underlined that he wants the maximum investment and technology to be given to India so that the poorest of the poor get jobs and the youth are not compelled to leave the country to work abroad.

“The world is not aware of the greatness of India, leave alone its capabilities. I want the world to understand that and recognise that. I can assure you that the day will not be far when the world will both understand and recognise India’s potential,” Modi said addressing a congregation of NRIs.

Talking about his discussions in Paris over the last two days, he said he had invited French companies to invest in India and give technology.

“There are immense opportunities in India. All that is available in the world, should be in India and much more,” the Prime Minister said.

Modi said he wants countries to compete among themselves in terms of doing business in India, contending that it will be beneficial for not only India but the entire world.

Giving an example, he said, “the population in the whole world is ageing and whatever units any country might set up anywhere, they would not be able to find workers for them after 20 years. The only place that they can find workers will be India as this is the only country with the largest young population. So, I want to tell the world, why wait for 20 years? Come now.”

Modi targets UPA govt over coal scam

Targeting the previous UPA government on the coal scam, Prime Minister Narendra Modi said coal blocks, whose earlier allocation had raised questions even against the then PM, had now fetched over Rs 2 lakh crore from auction of just 20 of them.

Addressing the Indian community, Modi took potshots at the Manmohan Singh regime, saying coal blocks were distributed in an arbitrary manner due to which the Supreme Court cancelled the allotments.

“20 coal blocks out of 204 have been auctioned so far and we received more than Rs 2 lakh crore from them,” Modi said.

Faced with a Supreme Court deadline of April 1, the NDA government worked at a fast pace since last September and was able to complete the first part of the auction process, he said.

Highlighting his ‘Make in India’ initiative, Modi said the country was aiming to reach new heights and his government was determined to ensure robust growth.

“We are telling the world — come and invest in India and manufacture in India,” the Prime Minister said while wooing investers to take advantage of the huge potential in India.