Narendra Modi
Narendra Modi File photo

India has exciting opportunities for investment in urbanization: Modi tells investors

New Delhi, November 17, 2020

Prime Minister Narendra Modi today invited investors to take advantage of the exciting investment opportunities opening up in Indian urbanization.

“If you are looking to invest in urbanisation, India has exciting opportunities for you. If you are looking to invest in mobility, India has exciting opportunities for you. If you are looking to invest in innovation, India has exciting opportunities for you. If you are looking to invest in sustainable solutions, India has exciting opportunities for you," he told the 3rd Annual Bloomberg New Economy Forum via video conferencing.

"These opportunities come along with a vibrant democracy, a business-friendly climate, a huge market. And a government which shall leave no stone unturned to make India a preferred global investment destination," he said.

Modi said that the post-COVID-19 world would need a restart, which would not be possible without a reset.

"A reset of mindset. A reset of processes and a reset of practices. The pandemic has given us an opportunity to develop new protocols in every field. This opportunity should be grabbed by the world if we want to develop resilient systems for the future. We should think about post-COVID requirements of the world. A good starting point would be the rejuvenation of our urban centres," he said

Dwelling on the theme of rejuvenation of urban centres, the Prime Minister emphasized the centrality of the people in the recovery process. Terming people as the biggest resources and communities as the biggest building block, he said, “The pandemic has re-emphasised that our biggest resource, as societies and as businesses, is our people. The post-Covid world has to be built by nurturing this key and fundamental resource.”

Modi stressed the need to carry forward the learnings of the pandemic period. Talking about the cleaner environment during the lockdown period he wondered whether the world could build sustainable cities where a cleaner environment is the norm and not an exception?

“It has been our endeavour in India to build urban centres which have the amenities of a city but the spirit of a village,” he said.

He informed the forum about the recent initiatives for revitalizing the Indian urban landscape such as Digital India, Startup India, affordable housing, Real Estate (Regulation) Act and Metro Rail in 27 cities. “We are on track to deliver close to 1000 kms of Metro Rail system in the country by 2022,” he said.

The Prime Minister said “we have selected 100 Smart Cities through a two-stage process. It was a nationwide competition upholding the philosophy of cooperative and competitive federalism. These cities have prepared projects worth almost two lakh crore rupees or 30 billion dollars. And projects worth almost one lakh forty thousand crore rupees or 20 billion dollars have been completed or are nearing completion.”


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