Prime Minister Narendra Modi on Wednesday called upon global companies to invest in India which the world sees as a “pillar of stability” in an increasingly uncertain world.
Describing India as a friend “who can be trusted as a partner, a voice that believes in global good”, Modi told a large number of global and domestic industry CEOs, and foreign dignitaries at the Tenth Vibrant Gujarat Summit in Ahmedabad on Wednesday that in a world surrounded by uncertainties, India’s priorities were very clear.
India was focusing on sustainable industry, infrastructure and manufacturing. Its other priorities are new age skills, futuristic technology, AI and innovation. India was also keen on green hydrogen, renewable energy and the full ecosystem of the semiconductor sector.
Pointing out that the industry was aware of the global economic scene, he said the world looks at India as an important pillar of stability. The Indian economy is also showing resilience because of the decade-long focus on structural reforms which in turn have increased the Indian economy’s capacity and competitiveness.
The government has aided this process by massive structural reforms that have made India an attractive destination for investment. The banking system today is the strongest in the world, 40,000 compliances have ended, GST introduced, and three FTAs signed along with an improved supply chain.
The priorities of 1.4 billion Indians towards development are human-centric, inclusive and equitable. This approach will be a major basis for world prosperity and development, making India in the process of becoming the world’s top three economies in a few years from its position as the eleventh largest economy a decade back. “It is my guarantee that this will happen,” the PM declared to applause.
The Prime Minister also drew attention to the fact that this was the first Vibrant Gujarat Summit since the Centre declared an era of Amrit Kaal for the next 25 years till 2047. The PM also spoke on the contributions by the foreign dignitaries at the Summit including chief guest Sheikh Mohamed bin-Zayed, Mozambique President Filipe Nyusi and Timor Leste President Ramos-Horta who also spoke on the occasion.
