Credible economic institutions have unprecedented confidence in India: PM Modi
Prime Minister Narendra Modi on Wednesday said that institutions and credible voices that track the global economy have unprecedented confidence in India.
NEW DELHI: Prime Minister Narendra Modi on Wednesday said that institutions and credible voices that track the global economy have unprecedented confidence in India.
Virtually addressing the Madhya Pradesh Global Investors' Summit 2023 being held in Indore, Modi gave examples of trust shown by global organisations in the Indian economy.
He said the International Monetary Fund (IMF) sees India as a bright spot in the global economy, and the World Bank has said the country is in a better position to deal with global headwinds than many other countries.
Modi credited India's strong macroeconomic fundamentals and mentioned OECD which claimed that India will be among the fastest-growing economies in the G20 group this year.
Quoting Morgan Stanley, the Prime Minister said that India is moving towards becoming the world's third-largest economy in the next four to five years. He further added that the CEO of McKinsey has declared that not just the present decade but the century itself belongs to India.
"Institutions and credible voices that track the global economy have unprecedented confidence in India", Modi said, adding that the "global investors also share the same optimism". "A stable government, a decisive government, a government running with the right intentions, shows development at an unprecedented pace. Dedicated freight corridors, industrial corridors, expressways, logistic parks, are becoming the identity of New India... PM Gatishakti is a national platform for infrastructure building in India which has taken the form of the National Master Plan," he informed the gathering of corporate sector. "We have implemented our National Logistics Policy with an aim to make India the world's most competitive logistics market," the Prime Minister further emphasised, urging investors coming to Madhya Pradesh to take maximum advantage of the PLI scheme. "The government approved Green Hydrogen Mission a few days ago which will bring in investment possibilities of about Rs 8 lakh crore," he highlighted. (IANS)