Modi Invites Singaporean CEOs for Investment in Thriving Indian Economy

Prime Minister Narendra Modi, on Thursday, invited leading Singaporean business leaders to invest in India, highlighting opportunities in aviation, energy, and skill development. He emphasized India's steady economic growth, political stability, and strategic reforms. Key industry leaders from Singapore showed positive response, praising Modi's leadership and pledging increased investments.

Prime Minister Narendra Modi, on Thursday, extended an invitation to Singaporean business leaders to explore investment opportunities in India, focusing on sectors such as aviation, energy, and skill development.

During his interaction with a group of notable Singaporean CEOs, Modi emphasized that India had seen transformative progress over the past decade and assured continued growth driven by political stability, policy predictability, and a reform-oriented economic agenda.

Modi noted India's rapidly growing aviation sector, highlighting the need for over 100 new airports and additional airline companies to meet rising domestic traffic. He also mentioned opportunities in scrapping old government vehicles, presenting substantial investment prospects.

Prominent figures such as Lim Boon Heng, Lim Chow Kiat, Goh Choon Phong, Yam Kum Weng, Yuen Kuan Moon, and Piyush Gupta participated in the round table, along with Singapore's Deputy Prime Minister Gan Kim Yong and Minister for Home Affairs K Shanmugam.

Modi acknowledged the significant role played by Singaporean industry leaders in strengthening bilateral relations and announced the establishment of an INVEST INDIA office in Singapore to further facilitate collaboration.

Highlighting India's contribution to global economic growth, Modi pointed to several initiatives aimed at enhancing India's presence in global value chains, including the Production Linked Incentive scheme, India Semiconductor Mission, and new Industrial Smart Cities.

He encouraged business leaders to consider opportunities in India's skill development sector and assured them of accelerated infrastructure development, highlighting prospects in railways, roads, ports, civil aviation, industrial parks, and digital connectivity.

Singaporean business captains, on social media platform 'X', praised Modi's leadership and pledged to double their investments in India over the next three years, expressing strong endorsement for India's growth story.

(With inputs from agencies.)