Next Phase of Growth: 10 things PM Modi told investors at MP Global Summit

Underlining the importance of the next phase of global growth, the Prime Minister said that on one hand, India is providing optical fiber network to every village, while on the other hand, it is rapidly expanding the 5G network.

 He noted that new opportunities are being created for every industry and consumer with the help of 5G, the Internet of things and AI and said that it will only accelerate the pace of development in India.

TICE brings you 10 points on why the prime minister believes investors should believe in Brand India: 

Global Recognition of India's Economic Growth

The Prime Minister highlighted that organizations such as the IMF, World Bank, OECD, Morgan Stanley, and McKinsey have confidence in India's economic growth. “Institutions and credible voices that track the global economy have unprecedented confidence in India”, the Prime Minister continued, “Global investors also share the same optimism.”

India to become world’s third-largest economy

He mentioned that India is seen as a bright spot in the global economy and is moving towards becoming the world's third-largest economy in the next 4-5 years.

Record-Breaking FDI

Referring to a survey by a prestigious international bank, the PM said that India is receiving record-breaking FDI and a majority of investors prefer India as their investment destination. “Today, India is receiving record-breaking FDI. Even your presence among us reflects this sentiment”, the Prime Minister added.

Democracy, Demography, Stability

The Prime Minister credited India's strong democracy, young demography, and political stability for the strong optimism shown towards the nation. He also threw some light on the ‘Atmanirbhar Bharat’ campaign. The Prime Minister noted that India has become an attractive destination for investment where the path of 'Reform, Transform and Perform' has been undertaken by India since 2014. “Even during a once-in-a-century crisis, we took the path of reforms”, the Prime Minister said.

Strategic Sectors for Private Investment

The Prime Minister emphasized India's equal reliance on the strength of its private sector and informed that many strategic sectors like defense, mining, and space have opened up for private players.

Stable and Reform-Oriented Governance

The Prime Minister highlighted the speed and scale of reforms that have been undertaken by the government in the last eight years, such as recapitalization and governance in the banking sector, creating a modern resolution framework like IBC and reducing the burden of compliance on businesses.

Focus on Skill Development and Education

The Prime Minister emphasized Madhya Pradesh's role in education and skill development, stating that it is a wonderful destination for those looking to invest in these areas. 

Government's Emphasis on Infrastructure Development

Highlighting the modern and multimodal infrastructural developments in the nation that give rise to investment possibilities, the Prime Minister informed that the speed of construction of National Highways has doubled in the last 8 years along with the number of operational airports in the country. 

He mentioned that the Government has been working towards developing and upgrading the infrastructure, in order to provide a strong foundation for businesses to grow and attract investors. 

Sectors of Opportunities

The Prime Minister also highlighted the new possibilities in the field of health, agriculture, nutrition, skill and innovation while stressing the need to build a new global supply chain along with India.

Ease of Doing Business

The Prime Minister highlighted India's efforts to boost ease of living and ease of doing business, such as One Nation One Tax in the form of GST, making corporate tax globally competitive, and getting rid of hurdles in the path of investment through various reforms. The Prime Minister mentioned the transparent and predictable policy framework of the government which facilitates ease of doing business and provides a stable business environment.