PM asks states to grab $100 bn investment

Prime Minister Narendra Modi Thursday asked the states to grab the $100 billion worth of investments that have resulted from his summit-level interactions with Japan, China and the US.

"(A total of) $100 billion investments from Japan, China and America have applied for visa. Now it is the turn of the states to capitalise on the opportunity," Modi said, inaugurating the "Invest Madhya Pradesh-Global Investors Summit-2014" here.

"The states which are ready can walk away with major share."

The prime minister also urged the states to work together in the spirit of "one and one - eleven".

He said the central government will stand shoulder to shoulder with all states, irrespective of the political affiliation of the ruling party, to facilitate investment and boost economic growth.

India's strength lies in its states and if the country is to be developed, the states must go forward, he said.

Modi said he stood for Team India, which includes him and all the chief ministers.

"If this team works together, a lot can be accomplished," he said adding that the states and the Centre were not competitors and their roles were complementary.

He complimented the Madhya Pradesh government and Chief Minister Shivraj Singh Chouhan "for rapid strides in development".

He said Madhya Pradesh has "ample land, good infrastructure, and effective governance" and was "an excellent investment destination".

He also complimented the state government for quick follow-up action to derive benefit from key policy initiatives of the Centre, such as the "Make in India" initiative and the defence manufacturing policy.

Ambassadors of 28 countries are attending the two-day investment summit which also has nine partner countries.

Industry bigwigs like Mukesh Ambani, Anil Ambani, Gautam Adani and Cyrus Mistry are also attending the summit, which will conclude Friday.