NEW DELHI/ SINGAPORE: PM Narendra Modi on Thursday asked top business leaders in Singapore to look at investment opportunities in India, pitching the country as the best alternative for those looking to build a resilient supply chain, in what was a bid to tap into the China Plus One strategy.
During his meeting leading Singaporean CEOs, PM asserted that India would increase the pace and scale of infrastructure development during his third term and highlighted new opportunities in railways, roads, ports, aviation, industrial parks and digital connectivity, an official statement said.
Modi said India had made transformative progress in the last 10 years and would continue on the same path given its strengths of political stability, policy predictability, ease of doing business, and its reform-oriented economic agenda. He said the country offered a skilled talent pool, expansive market opportunities, and was contributing 17% to global economic growth.
"If there is any fastest growing aviation market in the world, it is in India...the entire sky is open," the visiting PM said while inviting investment in India. He said even scrapping business in India presents huge investment opportunities, adding there are plans to scrap all old govt vehicles.
The PM also announced the establishment of an Invest India office in the island nation. The list of CEOs at the meeting included those of Singapore sovereign wealth fund Temasek Holdings and GIC, leading bank DBS Group, Singapore Airlines, renewables player Sembcorp, Changi Airport, Singtel, SGC and CapitaLand Investment.
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