PM Modi pitches for investments in India

Xavier Trudeau
Juin 3, 2017

The Prime Minister, Shri Narendra Modi, today addressed the Plenary Session of the St. Petersburg International Economic Forum (SPIEF).

In a speech at the St Petersburg International Economic Forum in Russia-billed as the Davos of the East-Modi noted that rating agencies rated India as one of the top three investment destinations in the world.

Specifically answering the question, he said ties between India and China should not be seen from a third country's perspective.

Prime Minister Narendra Modi said in St. Petersburg on Friday that India is committed to protecting the climate, irrespective of the Paris agreement, hours after President Donald Trump withdrew the USA from the landmark accord, saying it unfairly benefits countries like India and China.

"Concerning the theoretical possibility of the USA troop deployment on these [Kuril] islands if we assume that they would someday come under the sovereignty of Japan". The Administration for the Leningrad region, which surrounds the city of St. Petersburg, is set to sign 130 deals worth over $5 billion. There are now no utility-scale wind turbines or solar farms in Russian Federation, which - like the USA - continues to gets most of its electricity from burning fossil fuels. "In Germany, I had mentioned that whether there is Paris Accord or no Paris Accord, we are convinced that we must not steal something that rightfully belongs to the next generation". "This is what our vedas said 5,000 years ago".

Vladimir Chuprov, who tracks the Russian energy industry for the environmental group Greenpeace, said hardliners in the Kremlin will be buoyed by Trump's decision.

Modi said he was asked a similar question in Germany earlier this week, before the USA decision was made public. "The clean India movement has embarked on a program to clean the 2,500 kilometer long Ganga", Modi said. He said the world is focused on Asia, and therefore, naturally to India.

"Fifty cities need metros, 500 cities need solid waste management and drinking water".

All this provides vast opportunities for investment, he said.

"The sky is the limit in India".

The market is open even for defence manufacturing, tourism, hospitality and medical devices.

"Growing at 7%, India is one of the fastest growing emerging economies in the world", Modi told an audience packed with industrialists from some 60 countries, besides dignitaries like United Nations secretary general António Guterres and Putin.

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