PM calls on world to invest in 'powerful' India

Inviting global investors to set up manufacturing facilities in India, Prime Minister Narendra Modi on Friday said investment opportunities were available in several sectors including electrical, electronics, chemicals, pharmaceuticals, satellite and submarine.

He also exhorted the youth to become entrepreneurs and manufacture “zero-defect” goods with a view to make the country a global export hub.

The PM’s invitation to the global business community gained significance as foreign investors have been cautious to invest in India after 2G spectrum scam in 2008  in which several foreign companies lost their investment.

“From the ramparts of the Red Fort, I would like to call people of the world to come and manufacture in India. Sell the products anywhere in the world but manufacture here. We have the power. Come, I am inviting you,” Modi said.

India’s youth have skill and talent which will help in making the country an export hub, he added.

Appealing to the youth to enter manufacturing sector by setting up units, he said our dream should be seeing the “Made in India” products at every nook and corner of the world.

However, he said people should not compromise and ensure that “our products should have zero defect so that they would not be rejected in the global market.

Besides, we should also keep in mind that manufacturing should not have any negative impact on our environment,” he said. 

Citing the example of the IT industry, Modi said Indians have placed the country on the world map in this sector. “Just 25 years ago, the world used to say that India is the country of snake charmers and black magicians, but our youth have given a new identity to India in the world,” he said.

Pointing out that India’s second largest import is of electronic items after crude oil, Modi said: “With the Digital India dream, we should focus on electronic goods manufacturing. It will also help add to the government exchequer.”