India’s Modi woos foreign investors at Global Investment Summit in Rajasthan

Indian Prime Minister Narendra Modi touted his country’s economic prospects at a global investment summit in Rajasthan on Monday, as the state seeks to attract foreign investors and position itself as a hub for innovation and development.

Rajasthan, India’s largest State by area, is hosting the inaugural investment event in its capital Jaipur from Dec. 09 to 11, as the government seeks to double the State’s gross domestic product to $350 billion in the next five years.

The summit seeks to attract international investors and foster new partnerships in various sectors, including renewable energy, electric vehicles, infrastructure, start-ups and tourism.

“Today, every expert and investor in the world is very excited about India,” Modi said at the Rising Rajasthan Global Investment Summit.

He highlighted how the nation has become the world’s fifth-largest economy and almost doubled its exports in the last decade, also pointing to India’s young demographic — the world’s largest youth population — and tech expertise.

“We are going to see its huge benefits and huge impact here in Rajasthan as well. I have always believed that the development of the country comes from the development of the State,” Modi said, as he urged investors to explore the State’s manufacturing potential. (AN)

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