'You will find an open and welcoming environment here,' says PM Modi tells business leaders

Prime Minister Narendra Modi on Monday told business leaders that they will find an open and welcoming environment in the country that encourages investment and rewards enterprise.

"You will find environment that is not only open, but also welcoming. We will guide you and walk with you in your projects. You will find a climate that encourages investment and rewards enterprise. It will nurture innovation and protect your intellectual property," Prime Minister Modi said at the India-U.S. Business Summit here.

"It will make it easy to do business; our immediate target is to bring us from the rear ranks of the world into the top fifty," he added.

Pointing out that numbers are an unforgiving mirror to performance in the world of economics, the Prime Minister said they indicate 'that we are on the right track'.

"In the world of economics, numbers are often an unforgiving mirror to performance. They are telling us that we are on the right path. Our economic growth has increased by a percentage point," he said.

"Today, business sentiments in India are the strongest among major Asian markets. Consumer confidence in India has turned positive after three years. Growth in the eight core sectors of the economy has increased sharply. Inflation is at a five-year low," the Prime Minister added.

He said investments from the United States had jumped by 50 percent in the first six months of his government.

"And, I know that some of the pledges made in September in Washington have begun to flow in," the Prime Minister added.