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Friday, February 3, 2023

Stability and democratic values make India a flawless investment destination: Modi

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Indore: Emphasising that India’s political stability and robust democracy are the twin positive factors fuelling optimism and making everything possible, Prime Minister Narendra Modi averred on Wednesday that – as a corollary – ideal conditions exist for investment in the country.

In his inaugural address – via virtual mode – at the two-day Global Investors Summit in Madhya Pradesh’s commercial capital, Mr Modi said, “India awaits investment in health, agriculture, nutrition and skill development. Routes have been cleared for funding in defence and other principal sectors; labour-related legislation witnessed simplification. Over the past eight years; banking, finance, economy and related spheres saw numerous improvements thus removing hurdles vis-a-vis investment. Modern roads, airports and other infrastructural facilities are constantly being added; we are numero uno vis-a-vis diverse conveniences. 5G and artificial intelligence services are witnessing expansion; the number of manufacturing units is on the upward swing.”

The IMF views India as a bright spot in the global economy and the WB opines that the nation is in a better position to deal with global headwinds than many other countries, the Prime Minister observed and gave credit for that to strong macro-economic fundamentals.

“According to Morgan Stanley, India is moving towards becoming the world’s third-largest economy. This is not only our decade but also our century. The same optimism is shared by global investors and that is evidenced by the record-breaking stake being received. This Summit is being conducted during the Amrit Kaal of our Independence,” he pointed out.

Referring to the pandemic, the Prime Minister said that even during a “once-in-a-century crisis,” India chose the path of reform and has been transforming.

In the context of this state, he suggested that Investors entering Madhya Pradesh should benefit from the PLI Scheme and work in the green energy sector.

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