The path of reforms continued even in times of crisis, global organizations are now reposing faith in India - PM Modi - Newztezz Online

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Wednesday, January 11, 2023

The path of reforms continued even in times of crisis, global organizations are now reposing faith in India - PM Modi

Prime Minister Modi said India's strong economic fundamentals have led the IMF to view the country as a "bright spot" in the global economy and the World Bank says India is better equipped than many countries to deal with international headwinds. Is in better condition.

Prime Minister Narendra Modi said on Wednesday that due to political stability and continuous reforms during the last eight years, India has become an attractive investment destination and institutions and 'reliable voices' watching the global economy are showing unprecedented confidence in the country. He also said that the Organization for Economic Co-operation and Development (OECD) has said about India that the country will be the fastest growing economy in this group.

Addressing the inaugural session of the Global Investors Conference 'Invest Madhya Pradesh' organized by Madhya Pradesh government in Indore today, PM Modi said that from the year 2014, the country has been 'reform' (reform), transform (change) and perform (performance). ) is on its way. In an indirect reference to the outbreak of Kovid-19, he said, “Even during the severe crisis that comes once in a century, we did not leave the path of reforms. Self-reliant India campaign has given great momentum to the reforms in the country. As a result, today India has become an attractive destination for investment.

Unprecedented trust of global institutions on India: PM Modi

The Prime Minister said that investors' optimism towards India is being reflected due to strong democracy, political stability and young human resource. He said institutions and 'reliable voices' tracking the global economy have shown unprecedented confidence in India and international investors have also displayed similar optimism about the country.

Noting that international organizations are optimistic about India, Prime Minister Modi said the International Monetary Fund (IMF) sees the country as a "bright spot" in the global economy due to India's strong economic fundamentals and the World Bank says international India is in a better position than many countries in terms of dealing with adverse situations arising at the level.

India is creating new records everyday: PM Modi

According to Modi, the Organization for Economic Co-operation and Development (OECD) has said about India, currently presiding over the G20, that the country will be the fastest growing economy in the group. He said that in a recent survey by a reputed bank, it was found that most of the investors preferred India for investment. PM Modi also said that Foreign Direct Investment (FDI) in India is creating new records everyday.

Talking about meeting the global needs, PM Modi said that we have recently approved Mission Green Hydrogen. It has possibilities of development with a budget of Rs 8 lakh crore. It will meet the needs and demands of not only India but also of the world.

Regarding the reach of optical fiber network everywhere, PM Modi said that India is taking optical fiber network to every village. There the 5G network is expanding rapidly. Whatever new opportunities are being created for every industry and consumer from 5G to Internet of Things to AI, they will further accelerate the pace of development in India. He further said that in the last 8 years, we have continuously increased the speed and scale of reforms. Today's new India is moving forward relying equally on the power of its private sector. We have opened up many strategic sectors like defence, mining and space for the private sector.

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