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 arena to listen to Modi who is in Sydney after attending the G20 Summit in Brisbane over the weekend.  AFP PHOTO / Saeed KHAN
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

Modi urges Indians living in Australia to invest back home



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

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

Bob Marley: One Love

Director: Reinaldo Marcus Green

Starring: Kingsley Ben-Adir, Lashana Lynch, James Norton

Rating: 2/5

The Bloomberg Billionaire Index in full

1 Jeff Bezos $140 billion
2 Bill Gates $98.3 billion
3 Bernard Arnault $83.1 billion
4 Warren Buffett $83 billion
5 Amancio Ortega $67.9 billion
6 Mark Zuckerberg $67.3 billion
7 Larry Page $56.8 billion
8 Larry Ellison $56.1 billion
9 Sergey Brin $55.2 billion
10 Carlos Slim $55.2 billion

Subscribe to Beyond the Headlines
The specs: 2018 Chevrolet Equinox

Price, base / as tested: Dh76,900 / Dh110,900

Engine: 2.0L, turbocharged in-line four-cylinder

Gearbox: Nine-speed automatic

Power: 252hp @ 5,500rpm

Torque: Torque: 352Nm @ 2,500rpm

Fuel economy, combined: 8.5L / 100km

Company profile

Name: Purpl

Co-founders: Karl Naim, Wissam Ghorra, Jean-Marie Khoueir

Based: Hub71 in Abu Dhabi and Beirut

Started: 2021

Number of employees: 12

Sector: FinTech

Funding: $2 million