New Delhi,

Making a pitch to foreign investors, Prime Minister Narendra Modi on Tuesday said India is one of the most investor-friendly economies in the world. He pointed out that despite rising oil prices, inflation is within the mandated range and the government is committed to the path of fiscal consolidation. Addressing the opening session of the 3rd annual meeting of the Asian Infrastructure Investment Bank (AIIB) in Mumbai, the PM while enumerating India’s strengths such as growth and macroeconomic stability also mentioned the huge potential the Indian market has to offer to create capacities of scale. PM Modi emphasised that inflation is still under control despite rising crude oil prices and the government’s resolve to stick to fiscal discipline. He listed several of the parameters that foreign investors evaluate in markets before committing and said India fares well on these counts.  “India is one of the most investor-friendly economies in the world. Investors  want political stability and a supportive regulatory framework to ensure protection of their investment. From the point of larger-scale operations and higher value addition, an investor is also attracted by a large domestic market size, availability of skilled labour and good physical infrastructure. On each of these parameters, India is well-placed and has performed very well”, he added.