Modi tries to woo global CEOs

New York - Indian Prime Minister arrives in New York to a rousing welcome from NRIs

Prime Minister Narendra Modi on Thursday made a strong pitch to global investors to 'Make in India;, saying India remained a fast growing economy even in the current global crises, offering immense potential for investments.
"Our economic growth rate last year was 7.3 per cent. There has been a 40 per cent increase in foreign direct investment (FDI)," the prime minister told chief executives at the roundtable on financial sector in New York.
He also said that the International Monetary Fund (IMF), the World Bank and ratings institutions such as Moody's have maintained that the economic climate in India was bound to improve further.
Among the CEOs present at the roundtable were Jamie Dimon, chairman, chief executive and president of JP Morgan; Steve Schwarzman, chairman, chief executive and co-founder, Blackstone; and Charles Kaye, co-chief executive, Warburg Pincus.
Other leading figures at the roundtable were Henry Kravis, co-chairman and co-chief executive, KKR; Bill Ford, chief executive, General Atlantic; and Peter Hancock, president chief executive, AIG Insurance.
Chase Coleman, co-founder and managing partner, Tiger Global; and Vicki Fuller, chief investment officer, NY State Common Retirement Fund, were also present.
During the hour-long interaction, Modi also outlined steps taken to simplify the country's tax laws and in attracting investments, especially in infrastructure.
He said much had been done to ease doing business in India.
Soon after the meeting, US investors said the interaction was fruitful and that the prime minister was evocative in sending out his message.
"Overall, I was very pleased with the comments of the PM. India is very attractive to us," said Vicki Fuller, chief investment officer, NY State Common Retirement Fund.
Jamie Dimon, chairman, chief executive and president of JP Morgan said: "It was a great meeting with PM and very constructive as well." Earlier the Prime Minister received a rousing welcome by the members of the Indian community here. Arriving at the Waldorf Astoria Hotel, he stepped out of his vehicle and greeted at least 500 people, waiting for him with drummers and dancers, and waved to them. Secret Service agents ran around him, trying to set up a cordon as the crowds surged and Modi tried to get closer to it.
The supporters chanted 'Modi, Modi' and distributed sweets. They gathered about four hours before his arrival.
Jyoti Patel, who came from New Jersey, said they had gathered to support him because "he is a honest man and the hope of India".
Another supporter, Vikram Amin, said he was there to 'hail' Modi as he was trying to accomplish for all of India what he accomplished for Gujarat.
Later, Modi informally met members of the Indian community from the New York and Chicago areas.
Vasudev Patel, a physician from Atlanta who met Modi, said some of those meeting him offered to help him implement his programmes with their expertise.
Modi, he said, welcomed their offers and asked the Indian community in the US to contribute to India's development efforts. - IANS

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