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India best for investments: PM

Prime Minister Narendra Modi visiting an exhibition at the Uttarakhand Investors Summit in Dehradun on Sunday.

Prime Minister Narendra Modi visiting an exhibition at the Uttarakhand Investors Summit in Dehradun on Sunday.  

Modi hopes the country will become engine of world economic growth

Prime Minister Narendra Modi inaugurated Uttarakhand’s first investors summit on Sunday, saying India is the ideal investment destination in the world today with major social and economic changes sweeping the country.

Addressing top business leaders and industrial houses at “Destination Uttarakhand: Investors Summit 2018”, Mr. Modi said the country was passing through an era of unprecedented social and economic changes, and expressed confidence that in the coming decades, India would become the engine of world economic growth.

Demographic dividend

“Fiscal deficit has come down, the rate of inflation has come down. The middle class is growing and the country is full of demographic dividend. “In the past four years, the State and Central governments together have taken over 10,000 measures, which have helped the country improve its position in the ease-of-doing-business rankings by 42 points,” Mr. Modi said, describing the current times as the best for investors in the country.

The Goods and Services Tax (GST) was the biggest tax reform in the country post-Independence, which had turned the country into a single market, he said.

Infrastructure growth

Highlighting the rapid growth in the infrastructure sector, the Prime Minister said 10,000 km of highways had been built, which was double in comparison with what was done by earlier governments.

The aviation sector was growing at a record speed with 100 new airports and helipads coming up across the country. Tier II and III cities were getting air connectivity. With the high-speed rail projects and metro lines in various cities and the Centre’s policy of housing for all, power for all, fuel for all and banking for all, scenario of an ideal investment destination became complete, Mr. Modi said.

“My message to investors is make in India but not just for Indians but for the whole world,” he said.

The Prime Minister said schemes such as Ayushman Bharat would provide health insurance coverage to a huge population and it would also open up huge opportunities for investors in the health sector.

Describing Uttarakhand as a shining jewel in the crown of emerging new India, Mr. Modi extended an invitation to top industrial houses to invest in the State.

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Printable version | Apr 7, 2020 11:44:03 PM | https://www.thehindu.com/news/national/india-best-for-investments-pm/article25150708.ece

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