India Ready To Reform, You Be Ready To Perform: PM Modi To Singapore Business Leaders

New Delhi: Prime Minister Narendra Modi on Thursday addressed Singapore business leaders saying India is ready to reform asking them to be ready to perform.

Inviting them to come, invest, set up and work in India, the Prime Minister said the phrase ‘sky is the limit’ will fall short to define opportunities in India. He said that India ready to welcome world business and to work with them full transparency.

Singapore companies committed an investment of over Rs 5 lakh crore (around US $60 Billlion) in the next few years, at the roundtable with PM Modi.

“We are focusing on skill development in India... This is my third term. Those who are familiar with India will know that after 60 years a government has been given the mandate for the third time. The reason behind it is the people's confidence in the policies of my govt... If there is any fastest-growing aviation sector in the world, it is in India. Having MROs is a priority for us. You (businesses) should come to India to invest in the development of airports...,” the Prime Minister said.

"We are going forward with predictable and progressive policies... There is political stability in India. We are moving ahead aggressively in the area of semiconductors. We are going to make a whole ecosystem in this sector... Startups are growing very fast in tier 2 and tier 3 cities in India," he said.

Prime Minister Narendra Modi further said that his government is planning to introduce a mammoth vehicle scrap policy in which all the old government vehicles will be scrapped, telling Singapore business leaders to image the scale of this project.  

He further told business leaders that India is ready better than ever before to work with world companies, asking them to be part of India's progress.

India will require 100 new airports, more airlines, says PM Modi  

Referring to the aviation sector, Modi said India would be requiring more than 100 new airports and more airline companies to meet the rising domestic traffic.

"If there is any fastest growing aviation market in the world, it is in India... the entire sky open," the prime minister said while inviting investment in India.

He said even scrapping business in India presents huge investment opportunities, adding there are plans to scrap all old government vehicles.

Singapore CEOs who attended Modi's meeting

Lim Boon Heng (Chairman, Temasek Holdings), Lim Chow Kiat (CEO, GIC Private Limited), Goh Choon Phong (CEO, Singapore Airlines), Yam Kum Weng (CEO, Changi Airport Group), Yuen Kuan Moon (CEO, SingTel), and Piyush Gupta (CEO and Director, DBS Group) were among the corporate leaders present in the business round table, an official release said.

Deputy Prime Minister Gan Kim Yong and Minister for Home Affairs and law K Shanmugam of Singapore also participated in the event.

With inputs from PTI