India a global hub for global investors: PM Modi

The World Bank says that India is in a better position to deal with global headwinds than many other countries, PM Modi remarked.

Indore, Jan 11: Prime Minister Narendra Modi on Wednesday virtually inaugurated the 7th edition of 'Invest Madhya Pradesh-Global Investors Summit', a flagship event of the state government.

Speaking at the event, PM Modi said "The IMF and World Bank see India as a bright spot in the global economy. This is because of our strong macro-economic fundamentals."

"Viksit Bharat is not just an aspiration. It is a resolve of every citizen of India," PM Modi said.

"Institutions and credible voices that track the global economy have unprecedented confidence in India. The same optimism is also shared by global investors," the prime minister said.

"The IMF sees India as a bright spot in the global economy. The World Bank says that India is in a better position to deal with global headwinds than many other countries. This is because of India's strong macroeconomic fundamentals. OECD has said that India will be among the fastest-growing economies in the G-20 group this year," the prime Minister remarked.

"According to Morgan Stanley, India is moving towards becoming the world's third largest economy in the next 4-5 years. The CEO of McKinsey has said that this is not only India's decade but India's century. Institutions and credible voices that track the global economy have unprecedented confidence in India," PM Modi said.

"The same optimism is also shared by global investors. Recently, a prestigious international bank conducted a survey. They found that a majority of the investors preferred India. Today, India is receiving record-breaking FDI. Even your presence among us reflects this sentiment," he added.

"This optimism for India is driven by strong democracy, young demography and political stability. Due to these, India is taking decisions that boost 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. The Athmanirbhar Bharat abhiyan has imparted greater momentum to it. As a result, India has become an attractive destination for investment," PM Modi concluded.

A total of 447 international delegates from 84 countries, 401 international buyers, more than 5,000 industrialists and representatives of various international industry associations, and representatives of all G20 countries will take part in the event.

The key objectives of the event are - showcasing industrial ecosystem of the state, promoting the state policies, consultation with industrial organisations to formulate industry-friendly policies, collaboration opportunities, promoting export potential and buyer-seller meets and vendor development.