Modi urges Indians living in Australia to invest back home

Prime Minster of India Narendra Modi acknowledges thousands of supporters at the Allphones Arena Olympic park in Sydney on November 17, 2014. Thousands of Indian community members gathered at the arenShow more

SYDNEY // Last week Mick Jagger, this week Indian Prime Minister Narendra Modi.

Thousands of expatriate Indians thronged Sydney’s Allphones Arena on Monday, many travelling 1,000 km on a train dubbed the Modi Express, to clap and cheer India’s best-known leader since independence figure Mahatma Gandhi.

“I know that behind this affection lie expectations,” Mr Modi told the excited crowd. “We want to create the India you are dreaming of.”

Mr Modi’s appearance at the 21,000-seat arena, which hosted the Rolling Stones last week, underscored the rock star status he enjoys among some Indians at home and abroad.

He promised lifetime visas to people of Indian origin, repeating an offer he made to expatriates in the United States that would seek to strengthen cultural and business ties between overseas Indians and their home country.

“He has a magnetic personality and he makes a lot of sense,” said Mustafa Jamnagarwala, who migrated to Sydney 1-1/2 years ago from India. “Now I know if I invest back home my money is safer.”

Mr Modi arrived on Friday for the G20 economic summit in Australia, where about 300,000 Indians live. Trade between the two countries stands at around $15 billion a year, or just a tenth of that between Australia and China.

Mr Modi urged overseas Indians to boost investment at home, reprising an appeal made elsewhere, including the United States, where he sold out New York’s Madison Square Garden in September.

He took office in May vowing to create jobs and ignite the Indian economy after years of sluggish growth, launching signature initiatives such as “Make in India” and “Clean India”.

Australia is emerging as a key source of thermal coal for India’s growing number of electricity users.

* Reuters