Indore (Madhya Pradesh): Noting that global institutions and credible voices have unprecedented confidence in the country, Prime Minister Narendra Modi on Wednesday said the International Monetary Fund (IMF) sees India as a "bright spot" in the global economy.
“And World Bank says India is in a better position to deal with the global headwinds than many other countries. This is all because of India’s strong macroeconomic fundamentals,” he said while virtually addressing the inaugural function of the 7th edition of Invest Madhya Pradesh-Global Investors Summit in Indore.
Quoting Morgan Stanley, the PM said that India is moving towards becoming the world's third-largest economy in the next four to five years.
“The CEO of McKinsey has said that not just the present decade but the century itself belongs to India,” he added.
“The Organisation for Economic Co-operation and Development (OECD) has said India will be among the fastest growing economies in the G20 group this year,” he went on to add.
The premier said that the government has increased the speed of reforms and removed many hurdles in the way of investments in the past eight years. “Today's new India is moving ahead relying on the strength of its private sector”, he said.
India has been on the path of "reform, transform and perform" since 2014, the PM said.
The Atmanirbhar Bharat Abhiyan has imparted greater momentum to it. As a result, India has become an attractive destination for investment, he said.
Modi said dedicated freight corridors, industrial corridors, expressways and logistic parks are becoming the identity of new India.
For the first time, there is a national platform for building infrastructure in India in the form of the Gatishakti National Master Plan, he said.
India's modern infrastructure and multi-model infrastructure are also giving a boost to investment possibilities, he said.
All these efforts are giving new strength to Make In India and the manufacturing sector of the country is growing at a fast pace.
"Be it health, agriculture, nutrition, skill, innovation, new possibilities are waiting for you (investors) in India," he said and added it is time to build a new global supply chain along with India
MP is ‘ajab, gajab and sajag’: PM
Modi said there is an important role of Madhya Pradesh in building a developed India. “From faith, spirituality to tourism, from agriculture to education and skill development, Madhya Pradesh is ‘ajab,gajab and sajag’,” he said.
"I can say this with confidence that Madhya Pradesh has the potential and resolve and will go two steps ahead in your (investors) progress," Modi said.
He said the GIS is organised at a time when the 'AmritKaal' of India's independence has started.
Modi said MP has also joined the national single window system, started by the Centre recently. About 50,000 approvals have been given through it so far.
An incentive of more than Rs 2.5 lakh has been announced under the Production Linked Incentive (PLI) Scheme, the PM said urging the investors coming to MP to take maximum advantage of the PLI scheme.
Investments worth hundreds of crores have come in Madhya Pradesh because of this scheme, he said, adding the scheme has been important in making MP a big pharma and textile hub.
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