Modi invites global investors for urban transformation

Prime Minister Narendra Modi on Moday said that India along with several other African nations would to witness the biggest wave of urbanization.

Speaking at the Bloomberg New Economic Forum, Modi added that the pandemic has underlined the need to redesign and transform urban centres in the post-Covid era.

The Prime Minister also invited global investors to invest in India's urbanisation plans.

"If you are looking to invest in urbanisation, India is an exciting opportunity for you," he said.

He further said that India is also a suitable investment destination for mobility, innovation and sustainable solutions.

Modi said that the government will keep "no stone unturned" to make India a preferred global investment destination. In the wake of the Covid 19 pandemic, many multinational companies are looking to relocate their manufacturing bases to other countries other than China.

He said that the government's initiatives of Digital India, smart cities, affordable housing are initiatives towards making cities more liveable and affordable.

“India is well on its way towards urban transformation. He had no doubt that with the help of all stake-holders, the civil society, academic institutions, industry and most importantly the citizens and communities, we will achieve the dream of resilient and prosperous global cities,” he said.

The post-Covid world has to be built by nurturing key and fundamental resources. The world needs to move towards urban transformation with sustainable solutions.

India's economic growth in the April to June quarter of the current financial year contracted by 23.9 per cent. Though there are visible signs of economic revival, India may not be able to return to the growth zone in 2020-21..