PM Modi stated that organisations and reliable voices that watch the global economy. Such as the International Monetary Fund (IMF) and World Bank, have unprecedented trust in India.
Prime Minister Narendra Modi said on Wednesday that the country’s “strong democracy, young population, and political stability” are driving the “optimism” voiced by many foreign organisations regarding the Indian economy.
PM stated during the opening session of the Madhya Pradesh Global Investors’ Summit in Indore. That the role of the state will be critical in the development of a prosperous India.
PM Modi stated
PM Modi stated that organisations and reliable voices that watch the global economy, such as the International Monetary Fund (IMF) and the World Bank, have demonstrated unprecedented trust in India.
“This optimism for India is driven by a strong democracy, young demography and political stability. Due to these, India is taking decisions that boost the ease of living and ease of doing business. Even during a once-in-a-century crisis, we took the path of reforms. India has been on the path of ‘reform, transform and perform’ since 2014,”
Modi pointed out that the IMF sees India as a “bright spot” in the global economy. While the World Bank says the country is in a better position to deal with global headwinds than many other countries. “This is because of India’s strong macroeconomic fundamentals,” he added.
In its World Economic Outlook released last October. The IMF projected a growth rate of 6.8 per cent in 2022 as compared to 8.7 per cent in 2021 for India. Modi said that the optimism is shared by global investors as well. “Even your [delegates] presence among us reflects this sentiment,” he said.
Business leaders who were present at the inaugural session include Tata Sons chairperson N Chandrasekaran, Lulu Group chairman M A Yusuff Ali, and Adani Enterprises director Pranav Adani.
The value of our ongoing projects is around Rs 27,500 crore. We are operational in the power, gas, cement, roads, agricultural processing, defence and irrigation sectors. I am delighted to announce that not only will we continue our investments in all these sectors. We will also significantly expand our presence in MP. Our commitment to the state will see us investing in excess of Rs 60,000 crore in a wide variety of projects and sectors.