Prime Minister Narendra Modi delivered the inaugural address at the Magnetic Maharashtra Investors Summit 2018 on Sunday evening in the presence of prominent names from the world of politics and business.

The PM, who arrived in Mumbai in the afternoon, was welcomed by Maharashtra Chief Minister Devendra Fadnavis and Governor C Vidyasagar Rao at the airport. The PM laid the foundation stone of the long-pending Navi Mumbai airport project before heading for the Summit.

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“Maharashtra’s contribution to India’s ease of doing business ranking is significant,” the PM said in his speech underlining that improvement in nine of 10 parameters in ease of doing business is in itself a noticeable factor.

He pointed out that a change of this scale is because of the “new work culture in governance”.

According to the PM, timely decision making, inter-departmental cooperation and other such improvements are the reasons why Maharashtra was ahead in infrastructure spending among states in 2017.

The PM highlighted the schemes, plans, policies and initiatives taken by his government for the growth of the country and states such as Maharashtra.

Emphasising the need for better infrastructure for the growth of the nation, the PM told industry captains present at the gathering that his government has allocated Rs 1 lakh crore for the creation of infrastructure alone.

“Delhi-Mumbai infrastructure corridor is counted among 100 most innovative projects in the world,” the PM said.

Underlining the various schemes undertaken for the development of Maharashtra, the PM expressed his confidence in the Fadnavis government’s stated goal of turning the state into a 1 trillion dollar economy by 2025.

“Nothing is impossible in the land of Chhatrapati Shivaji,” said the PM adding that changed thinking, changed conditions can be seen in Maharashtra.

Modi said that nation’s progress is possible only when the state makes progress.

Taking a dig at the UPA government, Modi said that within years following India’s entry into the trillion dollar club, scams rocked the nation and talks revolved around Fragile Five.

“It is because of our government’s efforts that India’s entry into the five trillion dollar club is being discussed,” he said.

He said that to ensure growth of business and ease of governance his government is changing or abolishing laws where needed and simplifying rules and processes.

Presenting his vision in the Summit, the PM said that an improvement in ease of doing business will improve ease of living. “The better is ease of living, the more people will be empowered. More empowered people will speed up India’s economic and social development,” he said.

“Our Budget is not limited to outlay or output. Our focus in on outcomes,” the PM said.

Speaking at the Summit, Fadnavis had earlier said that Maharashtra attracted 50 per cent of the total FDI in 2016-17.

He urged the entrepreneurs present at the Summit to help Maharashtra increase its public infrastructure, unlock the potential of high growth sectors and underemployed agriculture labour, and connect Mumbai to unconnected areas of the state.

The Maharashtra government is targeting investments worth Rs 10 lakh crore at the summit.