PM Modi says India has potential of $ 1 trillion investment

The Prime Minister, Shri Narendra Modi at the Indian Community Reception, in Dubai Cricket stadium, UAE on August 17, 2015.

Abu Dhabi/Dubai, Aug 17:Prime Minister Narendra Modi on Monday made a strong pitch for UAE investments in India, saying India has the potential of $1 trillion investments even as he vowed to address the concerns of businesspersons.

Modi, who later travelled to Dubai on the second leg of his UAE tour, also held detailed talks with Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan.

In the morning, Modi took a tour of Masdar City, a hub of clean technology, 17 km from Abu Dhabi.

Addressing a roundtable of businesspersons at Masdar, Modi said an immediate potential of $1 trillion worth of investment exists in India.

He said India now has a decisive government with full majority, and several sectors including insurance, railways, defence manufacturing have been opened up for foreign investment.

He touched upon renewable energy, port-led development and low-cost housing as other sectors with huge investment potential.

Addressing top businesspersons like Etisalat CEO Ahmed Abdulkarim Julfar and Emaar Properties chairperson Mohammed Ali Al Abbar, Modi also promised to erase the deficit of prime ministerial interactions of the past 34 years.

Former prime minister Indira Gandhi was the last prime minister to visit the UAE in 1981.

He said that though there are 700 flights between India and the UAE, it took 34 years for an Indian prime minister to visit.