MP Global Investors Summit 2023: India Will Be Among Fastest-Growing Economies In G20 Groups This year, Says Modi

PM Modi said the IMF sees India as a bright spot in the global economy, while the World Bank says that India is in a better position to deal with global headwinds than many other countries

Prime Minister Narendra Modi.

Source : PTI

Prime Minister Narendra Modi on Wednesday virtually inaugurated the 7th edition of 'Invest Madhya Pradesh-Global Investors Summit', a flagship event of the state government, in Indore. The theme of the two-day summit is 'Madhya Pradesh-The Future Ready State', an official said.

During his speech, PM Modi said, "This summit is taking place in MP at a time when India's Azadi ka Amrit Kaal has begun. Together, all of us are working for making a developed India. When we talk of a developed India, it's not just our aspiration but the resolution of every Indian.”

The prime minister said that not just the Indians but every institution and expert in the world seems to be confident about this. “The IMF sees India as a bright spot in the global economy. The World Bank says that India is in a better position to deal with global headwinds than many other countries,” he said.

"The CEO of McKinsey's has said that this is not only India's decade but India's century. Institutions and credible voices that track the global economy have unprecedented confidence in India. The same confidence is also shared by global investors," Modi said, while adding," This is because of India's strong macroeconomic fundamentals. The Organisation for Economic Co-operation and Development (OECD) has said that India will be among the fastest-growing economies in the G20 groups this year. According to Morgan Stanley, India is moving towards becoming the world's third-largest economy in the next 4-5 years."

Modi said that even during a once-in-a-century crisis, India took the path of reforms. "India has been on the path of reform, transform and perform since 2014. Atmanirbhar Bharat Abhiyan has imparted greater momentum to it. As a result, India has become an attractive destination for investment," the prime minister said.

Today's new India is going ahead by also trusting its private sector. We have opened several strategic sectors such as defence, mining, and space for the private sector, Modi said during his speech.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan said, “I say it confidently from this stage, it is India that will show the global human race - burning in the fire of materialism - see the path to eternal peace. It's this nation that will do that tomorrow.”

After the inaugural address by Modi, Guyana President Dr Mohamed Irfaan Ali and Suriname President Chandrikapersad Santokhi will also address the meet, the official said. Union Commerce and Industry Minister Piyush Goyal will also address the meet virtually.

A total of 447 international delegates from 84 countries, 401 international buyers, more than 5,000 industrialists and representatives of various international industry associations, and representatives of all G20 countries are taking part in the event, the official said.

The key objectives of the event are - showcasing industrial ecosystem of the state, promoting the state policies, consultation with industrial organisations to formulate industry-friendly policies, collaboration opportunities, promoting export potential and buyer-seller meets and vendor development, the official added.