In Davos, PM Modi courts investors with the dream of a $5 trillion economy

Indian government eased restrictions this month on foreign direct investment in several sectors, including single brand retail, real estate brokerages and power exchanges

India is working toward a five trillion dollar economy by 2025, Prime Minister Narendra Modi said at the opening session of the World Economic Forum in Davos, as he courted global investors to Asia’s third largest economy.

“India is removing the red tape and laying out the red carpet,” Modi, the first Indian prime minister in two decades to attend the high-level forum, said in his address yesterday.

"Almost all areas of our economy have been opened to foreign direct investment," he said. "More than 1400 archaic laws that were an obstacle to doing business" have been abolished in the