‘India is bright spot in global economy’: Modi bats for investment at MP summit
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Prime Minister Narendra Modi stated at a global investors forum in Madhya Pradesh that the Indian economy has “solid macroeconomic foundations” and is projected to develop among the fastest in the prestigious G-20 group. The prime minister praised India as an “attractive location for investment” and claimed that, despite global concerns, his government’s work on important economic reforms had made India “a bright spot” in the world.
The International Monetary Fund views India as a bright spot in the global economy, according to the prime minister. “Not just we Indians, but every institution and expert in the world seems to be confident about this,” he added.
The World Bank stated that India is better positioned to handle global headwinds than many other nations, while the Organization for Economic Cooperation and Development predicted that India will be among the G-20 economies with the fastest growth this year. According to Morgan Stanley, India’s economy will rank third in the world.
This is not just India’s decade but also India’s century, according to McKinsey’s CEO. Institutions and reliable sources who follow the world economy have never before had as much faith in India. The solid macroeconomic fundamentals of India are to blame for this, according to the prime minister.
When speaking of a developed India, the prime minister said, “It is not just our goal but the resolution of every Indian,” urging all Indians to come together.
Additionally, he emphasised the importance of the private sector, adding, “We have made a number of vital areas like mining, space, and defence available to the private sector.”
Vikram S, India’s first commercially made rocket, was launched in November by the Indian Space Research Organization; the market will be accessible to private participants in 2020.
The prime minister was using a video link to address the “Invest (in) Madhya Pradesh—Global Investors Summit 2023.” The state’s economy would greatly benefit from the summit, according to Chief Minister Shivraj Singh Chouhan earlier.
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