PM Modi urges NRIs to invest in J&K, says India has political stability

Prime Minister Narendra Modi on Saturday said "political stability and predictable policy framework" have made India an "attractive" investment destination as he urged the Indian business leaders in the UAE to invest in Jammu and Kashmir, which he said could emerge as the country's growth engine.

Addressing a group of NRI business community in the UAE capital Abu Dhabi, Modi thanked them, saying they have made a vital contribution to India's economic growth.

Highlighting the economic opportunities in India, he said, "Political stability and predictable policies framework are key driving forces for investors and these factors have made India an attractive investment destination in the world."

The government has framed all its policies to promote growth, generate employment avenues and boost 'Make in India'. "We also see to it that investors get good returns on their investment," the prime minster said.

Urging the NRI business leaders to look at the opportunities available in India, Modi said there are lot of sectors where one can to invest in the country.

He urged the business leaders to invest particularly in Jammu and Kashmir, which, he said, has been neglected for years.

Jammu and Kashmir and Ladakh are two areas where there is a huge scope for development. For a long time, there was no development in the region, he said, adding that there is now a conducive environment for investment there.

"Impetus on development initiatives in Jammu and Kashmir will make it play a role in the growth engine of India and also create job opportunities for the youths there," Modi said.

India on August 5 scrapped special status to Jammu and Kashmir and bifurcated the state into two Union Territories -- J&K and Ladakh.

In his address to the nation after revoking the special status to J&K, Modi said state companies as well as private companies will be encouraged to create jobs for the local youths in the region.

"J&K and Ladakh have the potential to become the biggest tourist destination in the world," he said.

"Several herbal and organic products are scattered across J&K and Ladakh. If they are identified and marketed in the global market, then it will greatly benefit the people and farmers of these regions. I urge the enterprises from all over India to come forward for this," Modi said in his address.