Invest in India, Modi tells biz leaders

India is the world's most 'open and investment friendly' economy, Prime Minister Narendra Modi said here today as he wooed the BRICS business leaders, urging them to invest in the country and take advantage of its 'limitless' possibilities and 'countless' opportunities.

Addressing the closing ceremony of the BRICS Business Forum, Modi said the grouping of five countries had led to economic development despite the global economic slowdown.

'India is the most open and investment friendly economy in the world due to political stability, predictable policy and business friendly reforms. By 2024, we want to make India a five trillion dollar economy. The infrastructure alone requires USD 1.5 trillion investment,' he said.

Noting that India has 'limitless' possibilities and 'countless' opportunities, the prime minister urged the BRICS business leaders to take advantage of them.

'I invite the business of BRICS countries to build and grow their presence in India,' he said.