Narendra Modi tells UAE, India has United States dollars 1 trillion investment potential

Indian Prime Minister Narendra Modi has told a meting of businessmen in the United Arab Emirates (UAE) that there is potential for $1 trillion of investment into India.

The real importance of the UAE for India lies in its mind-boggling investment potential, but this has become a tough job for Congress government in the past, where Man Mohan Singh, could not move UAE.

He said major agencies including International Monetary Fund and World Bank were in agreement that India is now the fastest growing major economy in the world, with huge possibilities of development. Finally the UAE decision to build temple in Abu Dhabi, made PM Modi happy and regarding this, he thanked the UAE leadership.

The entire stadium with the thousands of Indians stood up, and with raised arms, raised the slogan after the prime minister.

Modi said India needs science, technology, speed and quality construction to ensure low-cost housing for Indians which he intends to ensure by 2022.

Top corporate honchos attended the meet.

The prime minister promised to curb the bureaucratic bottlenecks faced by UAE businessmen in India. Among them were Etisalat CEO Ahmed Abdulkarim Julfar and Emaar Properties chairperson Mohammed Ali Al Abbar.

“There’s a new momentum in the relationship between the two countries in different areas, mainly economic and investments”, Al Mansouri said.

“Masdar City is an incredible project, illustrating a pathbreaking approach to urban development & clean energy”, tweeted Modi. UAE officials, including the labour minister, have said that labour legislation in the country is in line with the UAE constitution.

The Prime Minister travelled briefly on the PRT (Personnel Rapid Transit) auto – a driver-less vehicle which runs from point to point on magnetic strips.

Modi also visited the Micro-Nano Fabrication Facility and the Microscopy Lab. He went on a brief walking tour of the city’s public spaces and was informed about the sustainable building methodology and key architectural elements.