New Delhi:
Prime Minister Narendra Modi today spoke about India’s rise globally at the NDTV World Summit. He spoke about why the 21st Century is ‘The India Century’, how the country is growing rapidly, and how investors from around the world are excited about India being the fastest growing major economy.
Launching NDTV World, PM Modi spoke about the pace and momentum with which India is growing. The prime minister said, “Looking at India’s rapid growth – the fastest in the world – and the infrastructure build-up in the country, several global ratings agencies have upgraded India’s growth forecast.” He went on to say that “Investors from around the world are keenly tracking India’s growth and are excited about investing in the fastest growing market.”
Mentioning global investor Mark Mobius, Prime Minister Narendra Modi said that he “advises global fund managers that they should invest at least 50 per cent of their funds in the Indian stock market.” He said that this shows how closely investors like him are following the India growth story.
“Today, India is a nation that is both developing at a record pace, as well as an emerging global power,” PM Modi said, adding that when India speaks, the world listens.
“India knows how to move towards eradicating poverty while also knowing how to build a road to progress,” he further said.
In the last ten years, India’s stock market has gone from 22,300 to over 81,000, while India’s economy took 63 years, from Independence to 2010, to reach a GDP of $1 trillion, it took just seven years to reached $2 trillion – in 2017, and by 2020 it reached $3 trillion. India has gone from being the 11th largest economy to now being the 5th largest economy in the world in less than 10 years.
“I meet many people who tell me, ‘India is now the fifth largest economy in the world, so many milestones have been achieved, reforms implemented, then why are you working so hard?’ In the last 10 years, 12 crore toilets have been built, and 16 crore homes have gas connections… is this enough? My answer is no. This is not enough. Today India is among the youngest countries in the world. This youth potential can take us to the skies,” the Prime Minister said.
“The dreams we have seen, the pledge we have made, there is no rest, no relaxation,” he added.
PM Modi also said that when India grows, the world grows. There is no ill-feeling or negativity around India’s growth story. That, he said, is because India has friendly ties with almost all nations in the world and takes everyone along.
