PM Narendra Modi has invited global investors to India saying that this is “the best time to be here”. It is a land of immense opportunities, the only place which offers Democracy, Demography and Demand, he said while addressing the 9th edition of Vibrant Gujarat Summit 2019 in Gandhinagar on Friday.
The event was attended by Heads of State from Uzbekistan, Rwanda, Denmark, Czech Republic and Malta, captains of industry from various sectors and over 30,000 delegates across the world.
Meeting Global Business Tycoons
India is now ready for business as never before. In the last four years, we have jumped 65 places in the Global Ranking of World Bank’s (Ease of) Doing Business Report. I have asked my team to work harder to ensure India is in the top 50 next year.
-PM Narendra Modi
PM Modi extended an invitation to global business leaders and companies to come and invest in India where the business climate was more investor friendly now with the required infrastructure and facilities in place.
He also stated that international institutions like the World Bank, IMF and Moody’s have shown confidence on the country’s economy.
Additionally, the government had initiated reforms in recent times to make Doing Business easier like implementing GST and simplification of taxes to reduce transaction costs and make processes efficient. This has also been facilitated with digital processes and single point interfaces.
Economy And Development
PM Modi also underlined the importance of the country’s growth and strong economic fundamentals.
At 7.3 per cent, the average GDP growth has been the highest of any Indian government since 1991. At the same time, the average rate of inflation at 4.6 per cent is the lowest for any Indian government since 1991 when India began its process for liberalisation.
-PM Narendra Modi
He addressed the gathering at the Vibrant Gujarat Summit 2019 saying that those who visited India regularly would feel a change in the air, in terms of direction and intensity. Over the last four years, the aim had been to reduce government and increase governance, he pointed out. The government wished to take deeper structural reforms to strengthen the economy and remain one of the fastest growing economies in the world.
India now had one of the largest ecosystems in terms of start-ups and with its world-class research facilities provided the right kind of atmosphere for investment, added PM Modi.
The government had worked hard to promote manufacturing to create jobs for the youth of the country. Investments through the ‘Make in India’ initiative have been supported by programmes like ‘Digital India’ and ‘Skill India’
PM Modi informed the gathering that India was among the highest growing tourist destinations in the world in 2017 with a growth of 14% over 2016.
India was also one of the fastest growing aviation markets in the world, with double-digit growth in passenger ticketing terms, for over four years.
Three- Day Vibrant Gujarat Summit 2019
The three-day investors’ meet is taking place at the Mahatma Mandir facility for international events in the state capital.
On Thursday, PM Modi inaugurated the Vibrant Gujarat Global Trade Show near Mahatma Mandir and a newly-built hospital in Ahmedabad.
Later in the evening, he opened a shopping festival on the Sabarmati Riverfront.
Major events during the three-day Vibrant Gujarat Summit 2019 include a round-table interaction with the heads of global funds, ‘Africa Day’, MSME convention, and a Round-table for Opportunities in Science, Technology, Engineering and Mathematics (STEM) Education & Research.
In addition, exhibitions on ‘Futuristic Technologies and Space Exploration’, seminar on ‘Port Led Development & Strategies to establish India as the Trans-shipment Hub of Asia’ and on ‘Make in India’ to showcase success stories and key interventions by the government have been organised.
(Note – All the photos are courtesy the Twitter handle of PM Narendra Modi.)