Calling global investors to invest in India, Prime Minister Narendra Modi on Thursday said the government has an ambitious plan to invest $1.5 trillion under the National Infrastructure Pipeline.

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"A pioneering multi-modal connectivity infrastructure master plan is being finalised. India has embarked on a massive infrastructure building spree of highways, railways, metros, water-ways, airports across the country. We are building millions of affordable houses for the Neo-middle class," the Prime Minister said.

Addressing the Virtual Global Investor Roundtable (VGIR) 2020, he said India is the best place for generating long-term returns. "If you want returns with reliability, India is the place to be. If you want demand with democracy, India is the place to be. If you want stability with sustainability, India is the place to be. If you want growth with a green approach, India is the place to be," Modi said.

India offers "democracy, demography, demand as well as diversity. Such is our diversity that you get multiple markets within one market. These come with multiple pocket sizes and multiple preferences. These come with multiple multiple levels of development", he said.

The country's growth has the potential to catalyse global economic resurgence as "any achievements by India will have a multiplier impact on the world's development and welfare," the Prime Minister said.

"India's quest to become 'Aatmanirbhar' is not just a vision but a well-planned economic strategy. A strategy that aims to use capabilities of our businesses and skills of our workers to make India into a global manufacturing powerhouse," he added.

VGIR 2020 was attended by 20 top institutional investors from the US, Europe, Canada, Korea, Japan, Middle East, Australia, and Singapore. These pension and sovereign wealth funds have total assets under management of about $6 trillion, as per an official statement issued earlier. The roundtable is being organised by the Ministry of Finance and the National Investment and Infrastructure Fund.

(Edited by : Jomy)

First Published:Nov 5, 2020 8:21 PM IST