INDORE: Prime Minister Narendra Modi Wednesday, January 12, said the International Monetary Fund (IMF) witnesses India as a "bright spot" in the global economy. He said as per the World Bank, India is in a better position to deal with the global headwinds than many other countries.
While virtually addressing the inaugural function of the 7th edition of “Invest Madhya Pradesh-Global Investors Summit” in Indore, PM said “The International Monetary Fund sees India as a bright spot in the global economy while the World Bank says India is in a better position to deal with global headwinds than many other countries.” "When we talk about a developed India, it is not just our expression but it is the resolve of every Indian," he added.
The theme of the two-day summit is 'Madhya Pradesh-The Future Ready State'.
Prime Minister said the optimism for India is driven by its 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, he said. India has been on the path of "transform, reform and perform" since 2014. The Atmanirbhar Bharat Abhiyan has imparted greater momentum to it. Thus, India has become an attractive destination for investment, he said.
"In 8 years, we have doubled the momentum of construction of national highways. During this period, the number of operational airports in India has developed. India's port handling capacity and port turnaround have improved phenomenally," PM remarked.
The Organisation for Economic Co-operation and Development has said India will be among the fastest growing economies in the G20 group this year, PM said.
As per Morgan Stanley, India is moving towards becoming the world’s third-largest economy in the next 4-5 years, while the CEO of McKinsey has mentioned this is not only India’s decade, but India’s century, the PM added.
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