Modi in Singapore; huge company announces investment of 90,000 crores

NEW DELHI: Following Prime Minister Narendra Modi's visit, a Singapore company made a huge announcement to double its investment in India.

CapitaLand Investment Company (CLI), a global real estate group based in Singapore, will increase its investment in India to ₹90,280 crore by 2028. Currently, the company has an investment of ₹45,000 crore in India. Last month, the company had also launched a ₹6,000 crore fund for business park development in India.

The company's decision to double its investment will create jobs along with the development of basic infrastructure. As competition in the real estate sector increases, quality projects will become available to people at lower prices. This is the 30th year since CLI entered India.

Modi's fifth visit
Prime Minister Modi arrived in Singapore on Wednesday. This is his fifth visit to the country. He was received by Home Affairs and Law Minister K Shanmugam in the Lion City. Today, he will have an official reception at the Parliament House. He will hold talks with Prime Minister Lee Hsien Loong, President Tharman Shanmugaratnam, former Prime Ministers Lee Kuan Yew and Goh Chok Tong, and semiconductor industry leaders, among others. He will also visit a semiconductor factory. Prime Minister Lee Hsien Loong hosted a dinner for Modi last night.

Agreements to be signed
The agreements to be signed include strategic partnership, maritime security, trade, investment, digitization, health, manufacturing, and connectivity. A key agreement is for Singapore companies to provide training and recruit Indian youth in the semiconductor sector.