Modi invites American businesses to invest in India

New Delhi, Sep (25) Presenting a progress report of the Indian economy while addressing the Bloomberg Global Business Forum in New York on Wednesday, Prime Minister Narendra Modi invited American businesses to the country.On the technology and innovation front, the Prime Minister invited the global business community to invest in India, stating that their technology and India's talent pool can together change the world. He also said that their scale combined with India's skill set can accelerate global economic growth. Modi further described India as an ideal destination for investors, saying that it was a "golden opportunity to partner India". In this regard, the Prime Minister mentioned India's 10-fold jump in the Logistics Performance Index, the 13-point jump in the Global Competitiveness Index, the 24-rank rise in Global Innovation Index, along side the 65-rank improvement in the Ease of Doing Business index calculated by the World Bank. Modi further noted that the Indian economy has benefited from the climate of political stability in the country. The Prime Minister also spoke about the Bloomberg National Brand Tracker 2018 survey that recently ranked India as the top performing Asian economy in attracting global investment. In seven out of 10 indicators of this report, i.e. political stability, currency stability, high quality products, anti-corruption, low cost of production, strategic location and respect for IPRs, India has been ranked at the top position.
--IANS rrb/sn/arm