India is working toward a five trillion dollar economy by 2025, Prime Minister Narendra Modi said at the opening session of the World Economic Forum in Davos, as he courted global investors to Asia’s third largest economy.“India is removing the red tape and laying out the red carpet,” Modi, the first Indian prime minister in two decades to attend the high-level forum, said in his address yesterday."Almost all areas of our economy have been opened to foreign direct investment," he said. "More than 1400 archaic laws that were an obstacle to doing business" have been abolished in the last three years.

India is working toward a five trillion dollar economy by 2025, Prime Minister Narendra Modi said at the opening session of the World Economic Forum in Davos, as he courted global investors to Asia’s third largest economy.“India is removing the red tape and laying out the red carpet,” Modi, the first Indian prime minister in two decades to attend the high-level forum, said in his address yesterday."Almost all areas of our economy have been opened to foreign direct investment," he said. "More than 1400 archaic laws that were an obstacle to doing business" have been abolished in the last three years.