Prime Minister Narendra Modi during the Bloomberg Global Business Forum in New York (Photo: ANI)

NEW DELHI: Prime Minister Narendra Modi on Wednesday said that India offers a golden opportunity for investments and his government is committed to bring in more measures to improve the business environment of the country.

Speaking at the Bloomberg Global Business Forum held in New York, Modi said that India has the capability, courage and conditions that are required to achieve the target of $5 trillion economy.

"India has now set the goal to make the country a $5 trillion economy. To achieve big target, we have capability, courage as well as the conditions," he said.

The Prime Minister added that $1 trillion has been added to economy in 5 years and the target is to make the country a $5 trillion economy by 2024-25.

Extending an invitation to the global business community to come and invest in India, Modi said that the recent announcement to cut corporate tax rates for domestic companies has sent a positive message.

"If you want to invest in a market where there is scale, come to India... If you want to invest in start-ups with a huge market, come to India...If you want to invest in one of the world's largest infrastructure ecosystem, come to India," he said.

Outlining India's stature as the world's largest infrastructure ecosystem, Modi also invited the global business community to invest in urbanisation in the country. "Now in the coming years, India is going to invest $1.3 trillion in modern infrastructure. Also, lakhs of crores of rupees are being spent on social infrastructure of the country."

"If you want to invest in one of the world's largest infrastructure ecosystem, come to India. We are rapidly modernising our cities, and equipping them with the latest technology and citizen-friendly infrastructure. Thus if you want to invest in urbanisation, come to India," he added.

Modi also told the business leaders that if they want to make in India, both for India and the world, they should "come to India".

"We have opened our defence sector like never before. If you want to Make in India, for India and for the world, come to India," the Prime Minister stated.

He also said that India received $286 billion foreign direct investment (FDI) in last five years, which is half of what it got in previous 20 years.

(With agency inputs)



In Video: We have courage, capability to make India a 5 trillion dollar economy: PM Narendra Modi