World’s Leading Firms And Investors Wants To Invest In India: PM Modi

He stated that Indian standards should be elevated to international levels, depending on our commitment to quality. Therefore, we must focus on improving our quality

Prime Minister Narendra Modi said while addressing the nation from the ramparts of the Red Fort on the 78th Independence Day that the country will soon do very well in manufacturing, and today, many people want to invest in India. 

"Today, many big companies and investors of the world want to invest in India. This is a golden opportunity. I urge the State governments to make clear policies to attract investors and give assurance of good governance and law and order situation to them. There should be competition between States to attract maximum investors. Their policies should changed or molded as per global requirements..." PM Modi said on Thursday.

He stated that Indian standards should be elevated to international levels, depending on our commitment to quality. Therefore, we must focus on improving our quality. India has significant potential in the field of design, and we need to dedicate efforts to advancing design in India.

Similarly, he added that the gaming industry offers numerous opportunities for success, and the country should leverage these to achieve excellence.

He also highlighted that India has made more efforts in the renewable energy sector than other G20 countries. “India is working to become self-reliant for its energy needs and deal with the global problem of climate change. We had vowed for renewable energy. India has done more than the (other) countries of G20," the PM said.

Talking about India’s banking system, the PM highlighted that Indian banks are now among the few globally strong financial institutions, thanks to major reforms implemented by his government. He stressed that a robust banking system is vital for strengthening the formal economy.

He noted that while the banking sector once faced significant challenges, it has since experienced growth. “Just imagine what was the condition of our banking sector. There was no growth, no expansion, and there was no faith (in the banking system). Our banks were going through difficult times...We took big reforms to make the banking sector strong. Today, because of the reforms, our banks are among the few strong banks globally," Modi said in his speech.

He also stressed that a robust banking system is essential for meeting the needs of the middle class, farmers, homebuyers, startups, and the MSME sector.