Political stability, predictable policy framework make India attractive investment destination: Modi

Urging Indian business community in the UAE to invest in Jammu and Kashmir, Prime Minister Narendra Modi here on Saturday said the "political stability and predictable policy framework" make India an attractive investment destination.

Interacting with the NRI business community at a Business Roundtable in Abu Dhabi, Modi said: "Political stability and predictable policy framework are key driving forces for investors and they make India an attractive investment destination."

Modi said from many years there was no development in Jammu and Kashmir and now there is a conducive environment for the investment. He urged businessmen to invest in the region so that it can play a part in the overall growth of the country.

Early this month, India revoked special status to Jammu and Kashmir and divided the state into two Union Territories -- Jammu and Kashmir and Laddakh. Modi said there is an environment of welcome in the region and doing investment there will create jobs for the youth.

"Many regions are available in India for investment. Jammu and Kashmir and Laddhak are two regions where we can make an investment in the large amount. From many years, there was no development in the region. If there will be investment then the region, it will also play an important part in the growth of the entire country," he said

"We should all ensure that people living in the region get jobs," he said.

The Prime Minister noted that the country has made some necessary changes in order to ensure the ease of business in the country, adding that these reforms have ensured improving its performance in the global rankings.

"We have taken many noteworthy moves towards improving the ease of doing business in India and attracting investments. Even the World Bank was shocked that how can developing country like India can jump the 59-60 rankings so really," he said.

India recently made 23 rank improvements and occupies 77th position in terms of ease of doing business. Modi is on the two-day visit to the UAE. The Prime Minister reached Abu Dhabi on Friday after completing his first leg of the visit to France.

He will leave for Bahrain later in the day, where he will meet Prime Minister Prince Shaikh Khalifa bin Salman Al Khalifa. He will also call upon King of Bahrain Shaikh Hamad bin Isa Al Khalifa and other leaders.

( With inputs from ANI )