India to spend $1.3 trillion on infrastructure: PM Narendra Modi

Prime Minister Narendra Modi on September 25 appealed to foreign investors to be a part of the India growth story.

Delivering the keynote address at the Bloomberg Global Business Forum, he said: "From highways to metros, each sector is seeing massive investment and potential. Thus, if you want to be part of the largest growing infrastructure ecosystem, come to India."

He said that India is going to spend $1.3 trillion on infrastructure.

"We have opened our defence sector like never before. If you want to make and build these products for India and the rest world, then come to India. In the coming years, we are going to spend around $1.3 trillion on modern infrastructure in India. When we came to power, India was a $2 trillion economy, it has expanded to $1 trillion more in the last five years. In the last 5 years, India has seen an inflow of $286 billion in FDI. This is 50 percent of the total FDI that has come to the country so far," he said.