Prime Minister Narendra Modi inaugurated the Global Investors' Summit at the 'Magnetic Maharashtra: Convergence 2018' conference at the MMRDA grounds in Mumbai's Bandra Kurla complex.
The Global Investors' Summit, Maharashtra's first, is reportedly along the lines of PM Modi's Make In India initiative.
Earlier, PM Modi also laid the foundation stone of the Navi Mumbai International Airport.
PM Modi spoke after eminent businessmen like Mukesh Ambani, Ratan Tata, Anand Mahindra, and Virgin chief Richard Branson.
Speaking at the Summit, Modi congratulated Maharashtra for improving its investment climate and ease of doing business in the state.
Modi added that the Devendra Fadnavis government had transformed Maharashtra and had helped bring in record changes in World Bank's Ease of Doing Business rankings.
PM Modi added that the budget set the foundations for larger targets - namely power for all by 2019 and housing for all by 2022.
Modi also praised the Fadnavis government for its aspirations of becoming a trillion dollar economy, saying that he had complete faith in its ability to meet the target.
After concluding at Magnetic Maharashtra, Modi headed to University of Mumbai.
At the University of Mumbai, PM Modi inaugurated the Wadhwani Institute for Artificial Intelligence.
The prime minister said that AI would not only disrupt every sector but would also open entirely new spheres and sectors for growth.
For India to realize the potential of new technology, the evolution of technology has to be rooted in the ethic of 'Sabka Saath, Sabka Vikaas', added Modi.
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