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Modi invites Singapore firms to invest in Navratna PSUs

  • Prime Minister Narendra Modi invited investors to participate in the proposed divestment of Navratna PSUs and sought the Singapore Government’s help in building at least 20 smart cities.
  • PSUs are classified into three categories — Maharatna, Navratna and Miniratna — mainly based on financial criteria to give them greater operational autonomy.
  • The government has announced plans to build 100 smart cities and Singapore can work on building at least 20 of them.
  • He also pitched for issuance of rupee bonds and infrastructure bonds in Singapore.
  • The Prime Minister also invited his Singaporean counterpart to visit India, especially Gujarat, to see with his entire family the Asiatic lion, which forms part of the symbol of Singapore.
  • Singapore sought doubling of flights to India, while Modi wanted the city-state to play a key role in upgradation of railway stations in India.

Source: EconomicTimes

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