New Delhi: As we continue our measures to enhance the fundamentals of our economy, the world still views India as a "bright spot" despite the fact that the world is going through a moment of "Global crisis," Prime Minister Narendra Modi said during his virtual address in Karnataka.

"Despite the current state of the international economy, economists and professionals from all over the world see India as a bright point. In order to build our economy, we continue to concentrate on our basics. The world can see how prepared we are thanks to the free trade agreements that have been struck "PM Narendra Modi made this statement during the summit's Invest Karnataka 2022 virtual opening address.

He said, India has made investments easier by rationalising its regulations rather than enforcing them more strictly. "Our investors are now free from red tape and have access to a wealth of opportunities. We supported them in a number of fields that were previously off-limits to private investment, such defence, drones, space, and geospatial mapping." The New India now places a strong emphasis on audacious reforms, expansive infrastructure, and the best talent in the nation, he said.

The Prime Minister went on to say that India has become a global leader in the use of renewable energy because "our capacity for renewable energy expanded three fold in the previous eight years and that of Solar energy up to 20 times," he said.

PM Modi praised the nation's youth and said that the country is making progress with its efforts, saying that investing in India means "Investing for the Inclusion, Democracy, World, a better and a cleaner-safer planet."

Citing the objective of the PM-GatiShakti National Master Plan, he said, "The youth of India has established more than 100 unicorns here and in the previous eight years, they have successfully launched more than 80 thousand new businesses."  He said that the PM-GatiShakti National Master Plan aims at 'integrated infrastructure development' in India.

The "double engine government" in Karnataka, which PM Modi commended in his speech, has made it feasible for new businesses to get off the ground.

"It is a location with a unique fusion of culture and nature, as well as tradition and technology. The first thing that comes to mind when we discuss talent and technology is the brand Bengaluru, which is now well-known on a global scale " he added.

The three-day Invest Karnataka 2022, Global Investors Meet features more than 80 speaker sessions with the goal of luring potential investors and creating a development strategy for the coming ten years.

Some of the biggest businessmen were scheduled to speak at the programme, including Vikram Kirloskar, Sajjan Jindal, and Kumar Mangalam Birla, according to a PMO official statement that was previously made public. Parallel to this, other business shows with over 300 exhibitors and national sessions would take place.

The event's international scope should provide Karnataka with an opportunity to introduce the world to its culture.