UPDATE 1-India’s Modi woos investors at business summit, firms unveil big spending plans

India's Prime Minister Narendra Modi touted his country's economic prospects at a major business summit in his home state on Wednesday as companies Maruti Suzuki and Adani unveiled investment plans worth nearly $30 billion combined. India is a "powerhouse for talented youth, a technology hub for finding solutions and a democracy that delivers", Modi said at the Vibrant Gujarat Global Summit, adding that the nation was on its way to becoming the third-largest economy in a few years. His pitch comes just months before national elections, in which he will seek a third term, and at a time when global businesses are looking at India to diversify supply chains beyond China.