New Delhi: Prime Minister Narendra Modi Wednesday said India is doing well in the global economy due to it's strong "macroeconomic fundamentals". He was speaking virtually at the 7th edition of Invest Madhya Pradesh-Global Investors Summit in Indore. Justifying his statement, the Prime Minister cited the International Monetary Fund (IMF) which had recently said that India is in a "bright spot" in the global economy. The World Bank has also said that India is in a better position to deal with the global headwinds than many other countries, Modi added.
The Organisation for Economic Co-operation and Development (OECD) has said India will be among the fastest growing economies in the G20 group this year, he continued. According to 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 said this is not only India's decade, but India's century, he went on.
India's optimist scenario is driven by its strong democracy, young demography and political stability, he said adding that these attributes have helped India in taking decisions that boost ease of living as well as ease of doing business. "When we talk about a developed India, it is not just our expression but it is the resolve of every Indian," he said. India has been on the path of "reform, transform and perform" since 2014, the PM said.
Lauding India's achievements by the present government Mosi said, "In eight years, we have doubled the speed of construction of national highways. During this period, the number of operational airports in India has doubled. India's port handling capacity and port turnaround have improved phenomenally."
The theme of the two-day summit is 'Madhya Pradesh-The Future Ready State'. According to an official statement released earlier, the key objectives of the Global Investors Summit are showcasing the industrial ecosystem of the state, promoting the state policies, consultation with industrial organizations to formulate industry-friendly policies, collaboration opportunities, promoting export potential and buyer-seller meets and vendor development.
