Modi makes strong pitch for investments in New York

Says IMF, World Bank, Moody's have maintained that the economic climate in India was bound to improve further

Prime Minister Narendra Modi on Thursday made a strong pitch to global investors to "Make in India" saying that 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%. There has been a 40% 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
 

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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 at the event.