Guwahati: Prime Minister Narendra Modi said on Wednesday that the country’s robust democracy, youthful population and political stability are the main reasons for optimism in promoting India as a desirable location for investment.
Addressing the Global Investors’ Summit held in Indore via video conferencing, PM Modi said, “Optimism for India is driven by strong democracy, 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.”
According to the Prime Minister, India is receiving unprecedented support from reputable organisations and voices monitoring the global economy, according to ANI.
He further stated, “The IMF sees India as a bright spot in the global economy. The World Bank says that India is in a better position to deal with global headwinds than many other countries. This is because of India’s strong macroeconomic fundamentals.”
The Prime Minister added that India’s emphasis on bolstering its multimodal infrastructure is creating new opportunities for foreign investment.
“Today’s New India is going ahead by also trusting its private sector. We have opened several strategic sectors like Defence, Mining and Space for the private sector,” PM Modi said.
Invoking the Organisation for Economic Co-operation and Development, the PM predicted that this year India’s economy will be among the G-20 nations with the fastest growth rates. India is on track to overtake China as the third-largest economy in the world within the next four to five years, the Prime Minister told Morgan Stanley. “The CEO of McKinsey has said that this is not only India’s decade but India’s century,” he said.
“We are all working together to build a developed India,” PM Modi added.