Prime Minister Narendra Modi on Wednesday invited the CEOs of major global companies to invest in India and assure them of all support. PM Modi was speaking at the Bloomberg Global Business Forum which was attended by world leaders and top corporate executives. Modi was speaking on topics including India's prospect as a global business destination, climate change and country's plans to make the country a $5 trillion economy.
In his address, PM Modi talked about India's progress since the time he took over as the Prime Minister of the country. Showcasing India as the ideal destination for investors, he argued it was a "golden opportunity to partner India".
"If you want to invest in a market where there is scale, come to India. If you want to invest in a market where the latest trends and features are appreciated, come to India. If you want to invest in start-ups with a huge market, come to India," the prime minister added. PM Modi also offered to "act as a bridge" in case of companies facing issues. "Your desires, and our dreams match. Your technology and our talent can change the world. Your scale and our skill can speed up global economic growth... If there is any gap, I will act as a bridge," he said.
The BJP led government has an ambitious target of adding 5 trillion dollars into the economy in next five years and Modi's address is seen as his attempt to invite global companies to India with fresh Foreign Direct Investment (FDI). Moreover, PM Modi also highlighted the country's effort to develop smart cities in order to promote investment in infrastructure and real estate. He said, "If you want to invest in one of the world's largest infrastructure ecosystem, come to India. We are rapidly modernizing our cities, and equipping them with the latest technology and citizen-friendly infrastructure. Thus, if you want to invest in urbanization, come to India."
PM Modi also said that the country jumped 65 ranks in ease of doing business since BJP came into power due to measures taken by his government. "India has ranked number 1 in Asia on seven out of 10 indicators - political stability, currency stability, high-quality products, anti-corruption, low cost of production, strategic location and respect for IPR," he added.
Global cooperate leaders hailed Modi's speech and said that they are impressed with India's growth story. Reiterating its commitment to invest in India, James Quincey, CEO, Coca Cola, "We think it's not just an important market for us, it's the 5th most important and we think it's going to become the third most important." Michael R. Bloomberg, Owner, Bloomberg L.P. added, "India's economic growth is one of the great success stories of the century. I've gotten to see that growth first hand."