Delivering the keynote address at the India Ideas Summit, organised by the US-India Business Council on Wednesday, PM Modi invited the United States to invest in defence, space and raising foreign investment cap.  

“We all agree that the world is in need of a better future. And, it is all of us who have to collectively give shape to the future. I firmly believe that our approach to the future must primarily be a more human-centric one,” PM said. 

He added that global economic resilience can be achieved by stronger domestic economic capacities. This would mean improved domestic capacity for manufacturing, restoring the health of the financial system and diversification of international trade.

Modi invited business corporations to invest in healthcare, infrastructure, defense, energy, civil aviation among others.

“When the markets are open, when the opportunity is high and the options are many, can optimism be far behind! You can see the optimism when India rises in key business ratings. Particularly the Ease of Doing Business ratings of the World Bank,” he said.

Modi added, “The rise of India means a rise in trade opportunities with a nation that you can trust, a rise in global integration with increasing openness, a rise in your competitiveness with access to a market which offers scale”. He said to achieve this vision, US is one of the best partners.

Calling both the countries “natural partners”, Modi added that the US-India partnership can help the world bounce back after the pandemic.

The theme for this year’s India Ideas Summit is “Building a Better Future” and the event will also mark the 45th anniversary of the establishment of the US-India Business Council.

The intention of the summit is to bring together senior officials from the Government of India as well as the US administration who are setting the post-pandemic recovery agenda.

The line-up of the event includes US Secretary of State Mike Pompeo, Minister for External Affairs S Jaishankar, Finance Minister Nirmala Sitharaman and numerous other officials.