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PM Modi’s pitch to global investors — put your money in India’s urbanisation and mobility

Addresing Bloomberg economy forum, PM Modi says India has added advantages of being a vibrant democracy and huge market with a business-friendly environment.

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New Delhi: Prime Minister Narendra Modi Tuesday pitched India as an investment destination for businesses looking to invest in urbanisation, mobility, and sustainable solutions.

Addressing the third annual Bloomberg New Economy Forum, Modi talked about the rapid strides made by India in the urbanisation process, as well as the many policies of the government aimed at affordable housing, mobility and information technology infrastructure.

He said India offers exciting opportunities in the urban space with the added advantage of being a “vibrant democracy” offering “business-friendly environment and a huge market”.

The PM said the “government shall not leave any stone unturned” to make India a preferred investment destination.

Modi was all praise for Indian cities and their handling of the preventive measures implemented to fight the Covid-19 pandemic. Cities are growth zones but the pandemic showed they are also the vulnerable zones, Modi said.

“Indian cities have presented an extraordinary example during these tough times. There was worldwide resistance to lockdown measures. However, Indian cities meticulously followed the preventive measures. The biggest building block of our cities was not concrete but community,” Modi said.

He pointed out that the biggest question before the entire world is how to restart after the pandemic. “But for a restart, there is a need for a reset,” he said, stressing on the need for mindset, process and practices to be reset.

A good starting point would be the rejuvenation of our urban centres, Modi said.

Also read: Modi govt announces Rs 2.6 lakh cr stimulus package ahead of Diwali to boost jobs, housing

‘IT is an important enabler’

Modi said the pandemic has given a chance to countries to accelerate the process of making cities more accessible to people. Housing, shorter and more efficient travelling, and IT infrastructure can make cities accessible to its people.

Modi pointed out how the Indian government made changes to norms governing business process outsourcing (BPO) firms to enable work from home and work from anywhere.

“IT is an important enabler in the journey of a smart prosperous city… Our cities need to be ready for the convergence between the physical and digital world,” he said.

The Indian government has been encouraging foreign investors to invest in the country, with the PM virtually addressing the world’s top 20 pension and sovereign wealth funds, prodding them to invest in Indian infrastructure projects.

The government has also recently announced a Rs 1.46 lakh crore production-linked incentive scheme for 10 sectors such as auto and textiles, to boost manufacturing.

Speaking at the Bloomberg forum, Modi also talked about the government’s smart city initiative and said the selected 100 smart cities have created projects worth $30 billion, of which $20 billion worth of projects have been completed or are nearing completion.

Also read: Indians saved more in Q1, preferred to invest in mutual funds and hold cash, RBI says

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  1. About the government’s smart city initiative Modiji said the selected 100 smart cities have created projects worth $30 billion, of which $20 billion worth of projects have been completed or are nearing completion.

    Please fix the sewage system, garbage collection and roads in these smart cities first. Let’s have functioning cities before we aspire for smart cities.

  2. India has blown its economic prospects with demonetisation. No country in the world does such things. India’s growth story that made people sit up in the first decade of the century is gone for good. Afterwards standing with folded hands and begging for FDI convinces no one. India is returning to the ‘Hindu rate of growth’ of 2%. The Hindu nationalists should feel proud. The latest report from IMF says Bangladesh is set to overtake India in some regards.

  3. The useless chai wallah recites his usual platitudes and lies. Only dumb Hindus will see light in him.

    India’s growth story is over and the outside world knows that investment in India is unsound. Investment can be swept away in the hate culture, mob violence and corruption of India. Indians are taking money out of the country.

    Make in India, Skill India, super power India, espiritual India. Modi’s vibrant democracy is planning concentration camps.

    15 nations signed a large free trade agreement a few days ago with China. It included Quad countries. India excluded itself.

    The latest IMF report says Bangladesh will over take India shortly ! BD is building a manufacturing sector. India’s is sinking after demonetisation. BD is ahead in many indicators. BD’s ranking in women’s development is 50, India is 114.

  4. Why is our beloved Prime Minister not applying a tilak on his forehead. A vertical saffron or horizontal vibhuti. After the beard this is the next step to become a Brahmarishi.

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