World looks at India as global growth engine, PM Modi Speaks on Vibrant Gujarat Global Summit
GANDHINAGAR, INDIA (PTI) – Prime Minister Narendra Modi on Wednesday said the world looks at India as an important pillar of stability, a trusted friend, an engine of growth in the global economy, a technology hub for finding solutions and a powerhouse of talented youth.
He also said that in the rapidly changing world order, India is moving forward as ‘vishwa mitra’ (friend of the world).
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Speaking at the inauguration of the 10th edition of the Vibrant Gujarat Global Summit, which saw participation of state heads and top CEOs of private companies, Modi said all major rating agencies are of the opinion that India will be among the three largest economies of the world in the next few years.
“In the rapidly changing world order, India is going ahead as ‘vishwa mitra’. India has given hope to the world that we can decide on common goals and achieve them,” he said.
“Today, the world looks at India as an important pillar of stability, a friend who can be trusted, a partner who believes in people-centric development, a voice that believes in global good, a voice of global south, an engine of growth in the global economy, a technology hub for finding solutions and a powerhouse of talented youth,” the PM added.
“Recently, we celebrated 75 years of India’s independence and in the next 25 years we will celebrate 100 years. These 25 years is ‘amrit kaal’ for India. We have set a goal of making India a developed country in the next 25 years,” he said.
On the occasion, Modi credited UAE President Sheikh Mohamed bin Zayed Al Nahyan, who was present at the event as the chief guest, for the “high growth of India-UAE relations”.
The future of 21st century India will become bright with our collective effort. Even during the G20 presidency, India provided a roadmap for a global future, and is taking forward the vision in this edition of VGGS, he added.
India is continuously strengthening its partnership with I2U2 Group (comprising India, Israel, the United Arab Emirates and the United States) and other multilateral organisations, Mr. Modi said.
He said his government has made India’s banking system strong through recapitalisation and use of information technology, ended more than 40,000 compliances through the ease of doing business, GST and global supply chain diversion.
“We signed three FTAs so as to make India a more attractive destination for global business. One of the FTA is with the UAE. We have opened many sectors for FDI through automatic routes. Today, India is making record investment in infrastructure,” he said.
In 10 years, India’s capex has grown five times, and the country is also moving fast in green energy and renewable energy sectors, with three times increase in green energy and twenty times in solar energy capacity.
“In 10 years, cheaper phones and data have brought about a new revolution of digital inclusion. Expansion of optical fibre to every village, and expansion of 5G is changing lives of common India. We are the world’s third biggest start-up ecosystem,” Mr. Modi said.
He said the changes happening in India are increasing the ease of living of citizens and empowering them.
“In the five years of our government, more than 13.5 crore people have come out of poverty and the average income of people has increased along with the participation of female workforce, which is a very good signal for India’s future,” he said, and called upon the world to join India’s growth journey.
The government is working to improve logistics and ease of transportation, with the number of airports grown from 74 to 149, national highway network twice, and metro train network thrice in the last ten years, he said.
“It is a matter of happiness for us to have my brother His Highness Sheikh Mohamed bin Zayed Al Nahyan to participate in the event. His presence as a chief guest at the VGGS indicates an increasingly intimate relationship between us. His faith in India and his support were very warm,” he said.
The two countries have signed MoUs for development of food parks, cooperation in renewable energy, and investment in the health sector.
Companies have also agreed to invest multi million dollars in India’s port infrastructure, he said. UAE’s sovereign welfare will begin operation in GIFT City, and transworld companies are also going to start aircraft and ship leasing activities, he said.
