India is most open and friendly economy, Modi claims

India is most open and friendly economy, Modi claims


India is the world's most 'open and investment friendly' economy, the Prime Minister, Mr.  Narendra Modi,  said in Brazilia on Thursday as he wooed the BRICS business leaders, urging them to invest in the country and take advantage of its 'limitless' possibilities and 'countless' opportunities.

Addressing the closing ceremony of the BRICS Business Forum, Mr. Modi said the grouping of five countries had led to economic development despite the global economic slowdown.

'India is the most open and investment friendly economy due to political stability, predictable policy and business friendly reforms. By 2024, we want to make India a five trillion dollar economy. The infrastructure alone requires  1.5 trillion dollar investment," he said.

Noting that India has 'limitless' possibilities and 'countless' opportunities, the Prime Minister urged the BRICS business leaders to take advantage of them.

'I invite the business of BRICS countries to build and grow their presence in India,' he said.