New Delhi, May 21 (IANS) Prime Minister Narendra Modi’s recent five-nation visit has helped India to secure an investment pipeline worth nearly $40 billion, with several global companies committing fresh investments and outlining expansion plans across key sectors, officials said.

During the visit, PM Modi held meetings with chief executives and senior representatives of more than 50 multinational companies spanning sectors such as semiconductors, logistics, infrastructure and technology.

The combined market valuation of these firms is estimated at around $2.7 trillion to $3 trillion, reflecting the scale of global corporate participation during the visit.

Many of these companies already have a significant presence in India, with their cumulative investments and business exposure in the country estimated at nearly $180 billion.

According to officials, several firms are now looking to expand their India operations to tap into the country’s strong economic growth trajectory and rising domestic consumption demand.

Among the major announcements during the tour, the United Arab Emirates committed fresh investments worth about $5 billion in India.

The total estimated value of fresh investment commitments and proposed business expansion plans discussed during the visit stands at nearly $40 billion, officials said, describing the outcome as a strong endorsement of India’s long-term economic prospects and investment potential.

PM Modi’s five-nation visit covered the UAE, the Netherlands, Sweden, Norway and Italy, during which India signed multiple agreements and elevated ties with several countries.

During the tour, India and the Netherlands unveiled a strategic partnership roadmap focusing on trade, defence, semiconductors, artificial intelligence and green hydrogen.

India and Sweden also agreed to elevate bilateral ties to a strategic partnership, while PM Modi attended the third India-Nordic Summit in Norway and held bilateral meetings with Nordic leaders.

Moreover, Italy and India have established a Special Strategic Partnership following talks between PM Modi and Italian Prime Minister Giorgia Meloni.

“Concluding a very productive visit to Italy. My discussions with Prime Minister Giorgia Meloni covered a wide range of sectors,” PM Modi said in a post on X.

He added that the decision to elevate ties would add new momentum to bilateral cooperation.

Meanwhile, External Affairs Ministry spokesperson Randhir Jaiswal described the Italy visit as the successful conclusion of PM Modi’s five-country tour marked by significant outcomes and fresh momentum in India-Italy ties.

–IANS

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