Prime Minister Narendra Modi has invited Malaysia, Singapore and other Asean countries to invest in infrastructure projects in India. Addressing ASEAN -Business Summit in Kuala Lumpur this morning, Mr Modi said winds of change prevail in India. He said India has opened Foreign Direct Investments (FDI) in Insurance, Defence and Railways. FDI policy has been relaxed in construction, plantation and Media. Assuring that all rights of innovators will be protected, Mr Modi said Intellectual Property Rights Policy would come in force by the end of this year.<br/><br/>He listed out a series of measures that his government taken on the reforms front on the occasion. The Prime Minister has laid emphasis on reforms for transformation of India with an aim to bring the fruits of development to the bottom of the demography.<br/><br/>Stating that India has immense potentiality for infrastructure development, he said 50 cities in the country are ready for Metro Rail Projects and the Government is committed to build 50 million houses in the next few years providing lot of employment for skilled as well as semi-skilled and poor.<br/><br/>The Prime Minister said concentrated steps are being taken for institutional reforms and emphasizing implementation of the tax reforms. Mr Modi exuded hope that the Goods and Services Tax Act, is expected to be rolled out by early next year. A bill has already been introduced in Parliament. He assured that all facilities would be provided to genuine and honest investors under the provisions. Exuding confidence that the 21st Century belongs to Asia and Asian countries will become economic powerhouse zones in the world. <br/><br/>AIR correspondent reports, Mr Modi will attend the ASEAN-India Summit today, and the East Asia Summit tomorrow. He reached Kuala Lumpur early this morning on the first leg of his two-nation visit to Malaysia and Singapore.<br/><br/>Earlier, the Prime Minister held talks with his China Counterpart Li Kequiang at the Shangrila Hotel in Kuala Lumpur. The two leaders held bilateral talks in a host of issues of mutual concern ahead of the crucial ASEAN – India Summit. The Prime Minister will address the ASEAN-India Summit followed by bilateral talks with New Zealand.