 "$100 bn up for grabs: PM to states")
Prime Minister Narendra Modi on Thursday asked states to attract as much as they could of the $100-billion foreign investment promised by three countries. “Be it Japan, China or the US, $100 billion has applied for a visa to India. Now, it is up to states to grab a share of this investment,” he said on the second day of the Global Investors Summit here.
The PM had visited the three countries last month. Japan and China committed investment of $35 billion and $20 billion, respectively, in the next five years. Though the US didn’t commit any specified amount, the US India Business Council told Modi its members had identified projects that would attract about $41 billion in the next three years.
The investors’ summit here is being attended, among others, by Reliance Industries chief Mukesh Ambani, Reliance Group chief Anil Ambani, Adani Group head Gautam Adani and Tata Group chief Cyrus Mistry.
Recently, Standard & Poor’s had upgraded its outlook on India’s sovereign ratings from negative to stable. The rating, however, was retained at the lowest investment grade.
The focus of the government, Modi said, was to generate employment by boosting all the three sectors — agriculture, manufacturing and services. He said value addition in agriculture and focus on infrastructure would help farmers. He urged industrialists to add value to agro products.
To bridge the gap between the demand and supply of those with specific skill sets, Modi invited investments in skill development, under the public-private-partnership model.
He said foreign investors shouldn’t treat India as a market alone, adding they should also focus on turning it into a manufacturing hub to increase the purchasing power of Indians. “In the manufacturing sector, we should give impetus to products that can be exported,” he said.
MODI IN INDIA’S HEART The PM, known to promote organic farming as a healthy trend, showed he was well versed in this field. He reminded Chouhan MP contributed about 40 per cent to India’s overall organic crop production
The PM had visited the three countries last month. Japan and China committed investment of $35 billion and $20 billion, respectively, in the next five years. Though the US didn’t commit any specified amount, the US India Business Council told Modi its members had identified projects that would attract about $41 billion in the next three years.
The investors’ summit here is being attended, among others, by Reliance Industries chief Mukesh Ambani, Reliance Group chief Anil Ambani, Adani Group head Gautam Adani and Tata Group chief Cyrus Mistry.
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Modi said India’s attractiveness as an investment destination was regaining momentum. “Global sovereign ratings agencies are once again gearing up to upgrade India. This is testimony to the fact that we are growing again,” he said.
Recently, Standard & Poor’s had upgraded its outlook on India’s sovereign ratings from negative to stable. The rating, however, was retained at the lowest investment grade.
The focus of the government, Modi said, was to generate employment by boosting all the three sectors — agriculture, manufacturing and services. He said value addition in agriculture and focus on infrastructure would help farmers. He urged industrialists to add value to agro products.
To bridge the gap between the demand and supply of those with specific skill sets, Modi invited investments in skill development, under the public-private-partnership model.
He said foreign investors shouldn’t treat India as a market alone, adding they should also focus on turning it into a manufacturing hub to increase the purchasing power of Indians. “In the manufacturing sector, we should give impetus to products that can be exported,” he said.
MODI IN INDIA’S HEART
- In what showed his love for investor summits, Prime Minister Narendra Modi urged Madhya Pradesh Chief Minister Shivraj Singh Chouhan not to see him off at the airport, as protocol demanded, but remain at the venue, to which Chouhan obliged