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Inviting investors from the United Arab Emirates (UAE), Prime Minister Narendra Modi on Monday said India had an immediate investment opportunity of $1 trillion (Rs 65 lakh crore) and the government would take urgent steps to address concerns of businessmen.
Modi said his government had got some problems in legacy and his immediate priority would be to kickstart things that were stalled by the “indecisiveness and lethargy” of former governments. “It is my priority to kickstart those things,” he said, addressing business leaders at a meeting in Masdar City.
The first Indian Prime Minister to visit UAE in 34 years said India had huge investment opportunities for investors from the UAE in infrastructure, energy and real estate, and urged them to invest in India and together make the 21st century “Asia’s century”.
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“We want technology, speed and quality construction when it comes to housing. Low-cost housing is very important for us. In the agriculture sector we need cold storage network and warehousing network where UAE businesses have another advantage. Infrastructure development and real estate offer tremendous opportunities for UAE businesses in India.”
The investors told the Prime Minister that they need steps like single-window clearance and cited cumbersome and complex processes for doing business in India. Modi said he has been told about some problems being faced by investors from the UAE and he wants to assure them that the government is solving those problems. “I will send my commerce minister to try and find solutions to the problems faced by UAE investors.”
Later in the day he told a gathering of around 50,000 Indians at the Dubai International Cricket stadium that the message of collective fight against terrorism that has emanated from here would be “understood” by those sponsoring terrorism, in an apparent reference to Pakistan.
He was referring to the India-UAE joint statement that talked about a collective fight against terrorism. Modi asked countries to choose if they were with sponsors of the menace or against them, he said. India wanted good relations with all neighbouring countries.
“I keep telling all neighbouring countries that like all people who have chosen the path of violence will have to come to the dialogue table at some point of time, similarly dialogue is the only way to resolve issues.”
“Those who need to understand will get the message. Signal is enough for them. Those involved in terrorism must be punished and this message has come out clearly from here,” he said.
