CCTV Script 29/09/14

— This is the script of CNBC's news report for China's CCTV on September 29, Monday.

Welcome to the CNBC Business Daily, I'm Qian Chen.

The Indian diaspora in New York gave Narendra Modi a grand welcome at the Madison Square Garden yesterday.

Almost 18-thousand people, largely the Indian-Americans, gathered to hear the Indian Prime Minister speak.

Modi called on the Indian-Americans to help develop India.

Modi will be meeting U.S. corporate leaders of some fortune 500 companies like Google, IBM, GE and Boeing later in the day.

What does this mean for drumming up big investment dollars back home in India?

And how will that affect Modi's position in India, and the world stage?

[GIRIJA PANDE, Executive Chairman of Apex Avalon Consulting] "Everyone has to give him a little time. He has started in a big way. He has started from the top, cleaning up the laws, moving the Indian bureaucracy which has traditionally been resistant to change. He has been working with neighbors on the foreign policy side. So I think he's getting his act together. Certainly there's a great momentum in India. I was there last week. And they're talking... People are very happy with many of the things that are being planned and are happening."

[AMARJIT SINGH, Senior Analyst for Country Risk at IHS] "At the federal level, the Prime Minister can't control things on the ground that easily. He can control things like red tape bureaucracy at the national level, but at the state level it becomes a little more dicey. Again, given his personal charisma, his momentum, I think all state governments are looking to him to see... well, if you can bring the investment, if you can bring the capital, then we're on board. We're not going to oppose you."

Modi also touted India's promise as a tech giant.. and pushed his "Make in India" campaign, aimed at turning the country into a manufacturing hub to rival China.

Amarjit Singh cold CNBC that balancing the relationship among India, China and the US is key.

[AMARJIT SINGH, Senior Analyst for Country Risk at IHS] "Modi is going to the U.S. with new plans on how he can develop the country moving forward. But on the geopolitical stage, yes China's relationship with both the U.S. and India is key.

China is investing in India now. India wants to boost trade with China. So they're very very important partners, not to say neighbors. But there are these other issues that both sides may be cautious about moving forward."

Modi is set to meet with President Barack Obama at the White House later today.

I'm Qian Chen, reporting from CNBC's Asian headquarters.

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