Invest in vibrant, stable India: Narendra Modi

Inviting global businesses to invest in India, Prime Minister Narendra Modi on Friday, while addressing a plenary session of the St Petersburg International Economic Forum (SPIEF), told corporate captains that India was awaiting their entry in sectors from agriculture, railways, infrastructure to defence, assuring that the country was protected by political stability and a vibrant judicial system. "The sky is the limit in India. You can venture here in any area you want (to do business)," he told investors.

He also mentioned that India has undertaken 7,000 reforms to improve "ease of doing business" - at the Central government level alone. That comes to around six reforms a day, since he took over three years ago. He further said that India's vibrant democracy and use of English goes a long way in ensuring a sense of security. The PM is in St Petersburg, Russia, on the third leg of his four-nation trip.

Replying to questions on relations with China, Modi said that despite border issues not a single bullet was fired in the last 40 years between the two countries. He said both countries are cooperating in the field of business and economy as well as in platforms like BRICS. He said that in today's perspective the whole world is inter-connected and inter-linked. Regarding relation with Russia, he said they are based on trust.

Meanwhile, addressing the plenary session of the forum, the Prime Minister has invited the business leaders to invest in India. Listing measures his government has undertaken to ensure ease of doing business, the PM mentioned GST which, he said, will be implemented from July 1, minimum government interference, and "Red carpet instead of Red tape "besides also political will and clear vision. Agreeing with President Putin, who spoke before him, the Prime Minister said technology is going to play a key role, and mentioned the Digital India initiative. He said a "digital divide" cannot be allowed to take root in the society.

Prime Minister mentioned the government's initiatives in financial inclusion -- and the Jandhan, Aadhaar, Mobile (JAM) trinity. He mentioned the scrapping of over 1200 archaic laws by his government. The Prime Minister mentioned initiatives taken for FDI and for competitiveness. He said international rating agencies had identified India as one of the top three destinations for FDI. Modi said that with the vision of "New India" skill development is a top priority for India's 800 million strong talented youth. In this context he mentioned the success of India's Mars Mission in the first attempt. He said the New India would have youth that are not job seekers but job creators; and can fulfil the global requirements of skilled human resource.

He said rising urbanisation in India requires most modern infrastructure including metro networks, waste management systems etc. He spoke of expanding and modernizing the railway network. The Prime Minister also spoke of the initiative to clean the Ganga. He said all these represented great opportunities for investment. Outlining initiatives in agriculture, the Prime Minister mentioned organic farming and food processing as areas for investment. In the manufacturing sector, the Prime Minister mentioned medical device and defence equipment manufacturing as key areas for foreign investment.

Earlier, the PM visited the State Hermitage Museum also visited the Datsan Gunzechoinei Buddhist Temple in Saint Petersburg and presented the Head Priest of the temple with 'Ugra Kujur'. The Prime Minister also met Tigran Sargsyan Chairman of Eurasian Economic Commission and former PM of Armenia, in St Petersburg.

'Are you on Twitter?'

American TV anchor Megyn Kelly was trolled on social media for asking PM Modi if he was on Twitter. Kelly asked the question while interacting with Modi and Russian President Vladimir Putin ahead of St Petersburg International Economic Forum. Modi, the world's second most followed leader on Twitter after US President Trump, laughed off her question.