Indian PM Narendra Modi on Thursday invited Singaporean business leaders to invest in India and said the country will remain on the path of transformative progress in future.

Pitching India as an investment destination, Modi said India is set to become the third-largest economy in the world over the next few years.

Talking of India’s impressive growth story, its skilled talent pool, and expansive market opportunities, he highlighted that India is contributing 17% to global economic growth.

The Prime Minister spoke about various initiatives to enhance India’s participation in global value chains through programs such as Production Linked Incentive scheme, India Semiconductor Mission and establishment of 12 new Industrial Smart Cities.

He called upon the business leaders to look at opportunities in India in the field of skill development.

For businesses looking for resilient supply chains, the Prime Minister noted that India is the best alternative given its strengths.

The PM assured that India will increase the pace and scale of infrastructure development in his third term and apprised the CEOs of new opportunities in the fields of Railways, Roads, Ports, Civil Aviation, Industrial Parks and Digital connectivity.

Prime Minister invited Singaporean business leaders to look at investment opportunities in India and to increase their presence in the country.

Modi visited Singapore after his trip to Brunei.