NEW DELHI: Prime Minister Narendra Modi on Wednesday said that institutions and credible voices that tracked the global economy have unprecedented confidence in India. He said the same optimism is also exuded by global investors.
Addressing the Madhya Pradesh Global Investors Summit virtually, the Prime Minister said, “Recently, a prestigious international bank conducted a survey and found that a majority of investors preferred India.”
The Prime Minister said, “Optimism for India is driven by a strong, young demography and political stability. Due to these, India is taking decisions that boost the ease of living and ease of doing business. India has been on the path of ‘reform, transform and perform’ since 2014. India has become an attractive destination for investment.”
Modi said, “This summit is taking place in Madhya Pradesh at a time when India’s Azadi ka Amrit Kaal has begun. Together, all of us are working for making a developed India. When we talk of a developed India, it’s not just our aspiration, but the resolution of every Indian.”
The Prime Minister added that today’s New India is marching ahead and it trusts its private sector. “We have opened several strategic sectors like defence, mining and space for the private sector”, the PM said.
To boost investors’ confidence, the Prime Minister said, “The IMF (International Monetary Fund) sees India as a relative “bright spot” in the world economy and further implementation of reforms will help unlock its growth potential.”
He also recalled that World Bank had said that India is better positioned to navigate global headwinds than other major emerging economies “The OECD (Organisation for Economic Co-operation and Development) said India is set to be the second-fastest growing economy in the G20 in FY2022-23”, he added.
Morgan Stanley has noted that India is moving toward becoming the world’s third largest economy in 4-5 years, the Prime Minister said. He said, “The CEO (chief executive officer) of McKinsey’s has said that this is not only India’s decade, but India’s century.”
Earlier in the day, Madhya Pradesh Chief Minister Shivraj Singh Chouhan urged NRIs, who have arrived for the ‘Pravasi Bharatiya Diwas’ convention in Indore, to participate in the Global Investors Summit.
Stating that NRIs are the brand ambassadors of the state, he said, “Along with the Pravasi Bhartiya Sammelan, there is also a Global Investors Summit being hosted by the state. You must participate it that event as well. You are the brand ambassadors of Madhya Pradesh. You must invest in Madhya Pradesh and inspire others”.
He also mentioned that an executive committee will be formed for NRIs of Madhya Pradesh, who are also the “Friends of Madhya Pradesh”. “The Global Investor Summit (GIS) is global in the true sense as representatives of 82 countries are participating and there are 10 partner countries. The Presidents of two countries, several foreign ministers, finance ministers and mineral ministers of different countries will be participating in the summit. Many international industries and trade organisations are also participating in it”, CM Chouhan said.
The CM has left no stone unturned to make the Summit a success. He held road shows in Delhi, Mumbai, Pune and Bengaluru to invite investors to the state. He held regular one-on-one discussions with industrialists and also met industrialists every week. In addition, he also interacted with potential investors from different countries.
“Buyers, sellers, over 5,000 industrialists, and 70 big industrial houses are participating in the summit. There is immense enthusiasm for investment in Madhya Pradesh, not only among domestic investors, but across the world. I feel our efforts will bear fruit. I have to make the state a $550-billion economy by 2026 and this summit will be a milestone in this direction”, Chouhan added. (ANI)