PM highlights investment opportunities at Forum.

The sky is the limit for investment opportunities in India, said Prime Minister Narendra Modi in a strong pitch to global investors during his visit to Russia.

A number of Memorandum of Understanding (MoUs) were signed on 2 June 2017 on the sidelines of the 18th India-Russia Annual Summit. These are:

Agreement between Heavy Engineering Corporation Limited and Joint Stock Company “Cascade – Technologies” for setting up of a Special Purpose Vehicle for railways.

Memorandum of Understanding between SREI Infrastructure Finance Limited and State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ on Russian export support and participation in the development of India-Russia capital goods financing/leasing business.

Agreement on Cooperation between ‘JITF Urban Infrastructure Services Limited’ (of India), ‘Jindal Rail Infrastructure Limited’ (of India), Joint Stock Company ‘Russian Export Centre’ (Russian Federation), and Limited Liability Company Management Company ‘RailTransHolding’ (Russian Federation).

Memorandum of Understanding between National Investment Promotion Agency ‘Invest India’ and the Business Council for Cooperation with India concerning the promotion of investment in India and Russia.

Cooperation Agreement between National Investment Promotion Agency ‘Invest India’ and the Roscongress Foundation.

Memorandum of Understanding between ‘Sun Group Private Limited’ and Joint Stock Company ‘Pribor’.

Addressing the Plenary Session of the St. Petersburg International Economic Forum, the Prime Minister said technology is going to play a key role, and highlighted the Digital India initiative.

He assured investors of security, pointing to India’s vibrant democracy and use of English which in a long way ensures a sense of security.

International rating agencies have identified India as one of the top three destinations for Foreign Direct Investment, he said.

The vision of “New India” skill development is a top priority for the country’s 800 million strong talented youth, said Modi, citing the example success of India’s Mars Mission in the first attempt.

The New India would have youth that are not job seekers but job creators; and can fulfill the global requirements of skilled human resource.

Rising urbanization in India requires most modern infrastructure including metro networks, waste management systems and which expansion of the railway network among other modernization of facilities and developments.

Outlining initiatives in agriculture to the session, the Prime Minister underlined investment opportunities in organic farming and food processing as areas.

Medical device and defence equipment manufacturing as key areas for foreign investment in the manufacturing sector, he added.

In the services sector, the he said the tourism and hospitality sector will receive high priority for development.

India is setting up more power generation capacity in renewable energy sector to meet the 175 GW target as its commitment to clean environment. fii-news.com