India Has Potential To Catalyse Global Economic Resurgence: PM Modi At Virtual Global Investor Roundtable | Key Highlights

The the Virtual Global Investor Roundtable facilitated business discussion between leading global investors, Indian business leaders and the government decision makers.

Prime Minister Narendra Modi. (Image: Twitter/ @PIBMumbai)

New Delhi: Prime Minister Narendra Modi on Thursday chaired the Virtual Global Investor Roundtable (VGIR) 2020 where he said that India is the best place for generating long-term returns. Soliciting global investments, the Prime Minister also pointed out that the country has one of the lowest corporate tax rates in the world. The event was organised by the Ministry of Finance, Government of India and the National Investment and Infrastructure Fund which was attended by heads of 20 top institutional investors from countries such as the United States, Australia, Singapore, Canada, Korea and Japan.

Speaking at the Virtual Global Investor Roundtable. Watch. https://t.co/Vo4wkJGaHt

— Narendra Modi (@narendramodi) November 5, 2020

The the Virtual Global Investor Roundtable facilitated business discussion between leading global investors, Indian business leaders and the government decision makers. Here are the major announcements and highlights of the Virtual Global Investor Roundtable (VGIR) 2020: 1. While addressing the participants, PM Modi said that if you want returns with reliability, India is the place to be. "If you want demand with democracy, India is the place to be. If you want stability with sustainability, India is the place to be. If you want growth with a green approach, India is the place to be," he said. 2. The Prime Minister further said that India offers "democracy, demography, demand as well as diversity. Such is our diversity that you get multiple markets within one market. These come with multiple pocket sizes and multiple preferences. These come with multiple weathers and multiple levels of development." 3. The country's growth has the potential to catalyse global economic resurgence as "any achievements by India will have a multiplier impact on world's development and welfare", the Prime Minister said. 4. "We are building a New India which is free of old practices. Today, India is changing and for the better. From fiscal Irresponsibility to fiscal prudence , from High inflation to low inflation, from reckless lending creating Non performing assets to merit based lending, from infrastructure deficit to infrastructure surplus, from mis-managed urban growth to holistic and balanced growth and from physical to digital infrastructure," PM Modi said.

It successfully brought out traits that Indians are known for:

A sense of responsibility. A spirit of compassion. National unity. The spark of innovation: PM — PMO India (@PMOIndia) November 5, 2020

5. As per official statement issue earlier, these pension and sovereign wealth funds have total assets under management of about USD 6 trillion. 6. VGIR 2020 was aimed that conducting business dialogues around India's economic and investment corridors, structural reforms and government's vision to make India a $5 trillion economy. 7. Several industrialists including Mukesh Ambani, Ratan Tata, Uday Kotak and Deepak Parekh attended the event and shared their vision with foreign investors and the Government of India.

India has shown remarkable resilience in this pandemic, be it fighting the virus or ensuring economic stability.

This resilience is driven by the strength of our systems, support of our people and stability of our policies: PM — PMO India (@PMOIndia) November 5, 2020

8. The global institutional investors represent key regions including the US, Europe, Canada, Korea, Japan, Middle East, Australia and Singapore. Some of these include funds like Singapore's Temasek Holdings, Canadian Investment Fund, Korean funds, JBIC, Australian Super etc. 9. The event provided an opportunity to leading global investors and Indian business leaders to engage and deliberate with senior policymakers on how to further accelerate the growth of international investments in India. 10. VGIR 2020 also provided an occasion for all stakeholders to further cement the strong partnerships that have been built and to foster engagement with international institutional investors who are looking to increase their Indian investments