NEW DELHI: Despite the world going through a phase of ‘Global crisis’, the world considers India as a “bright spot” as we continue our initiatives to strengthen the fundamentals of our economy, Prime Minister Narendra Modi said during his virtual address in Karnataka.
“Although it is a time of global crisis, economists and experts across the world are describing India as a bright spot. We continue to work on our fundamentals to strengthen our economy. The free trade deals that have been signed give the world a glimpse of our preparedness,” PM Narendra Modi said during his virtual inaugural address of Invest Karnataka 2022 Summit.
He said that India has eased the investments by rationalising the laws instead of making them more stringent.
“We’ve freed our investors from red tapism and given them a red carpet of opportunities. We encouraged them in various sectors that were earlier closed to private investments such as defence, drones, space and geospatial mapping,” PM Modi said adding that the New India now focuses on bold reforms, big infrastructure, and the best talent in the country.
Talking further, the Prime Minister said that India has set up a benchmark for the world when it comes to renewable energy as “our potency for renewable energy increased three folds in the last eight years and that of Solar energy up to 20 times.”
Remarking that the investment in India means “Investment for the Inclusion, Democracy, World, a better and a cleaner-safer planet,” PM Modi lauded the youth of the country stating that the nation is moving forward with its attempts.
“The youth of India has made more than 100 unicorns here and in the last eight years, they have successfully launched more than 80 thousand new startups,” he added mentioning the aim of the PM-GatiShakti National Master Plan.
He said that the PM-GatiShakti NMP aims at ‘integrated infrastructure development’ in the country.
In his address, PM Modi also praised Karantaka and the “double engine government” here for making it possible for setting up business startups.
“It is the place where there is both tradition and technology along with a unique confluence of nature and culture. When we talk of talent and technology, the first thing that comes to mind is the brand Bengaluru, which has now been established worldwide,” he said.
The Invest Karnataka 2022, Global Investors Meet is a three-day programme and has more than 80 speaker sessions aiming at attracting prospective investors and setting up a development agenda for the next decade.
According to a previously released official statement by the PMO, the speakers available at the programme included some of the top industry leaders including Kumar Mangalam Birla, Sajjan Jindal, and Vikram Kirloskar among others. Along with this, a number of business exhibitions with more than three hundred exhibitors, and country sessions would run parallelly.
The global scale of the event is expected to give Karnataka an opportunity to showcase its culture to the world as well.