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“This is the best time to invest in India”: PM Modi at World Economic Forum’s online Davos Agenda 2022 summit

PM Modi spoke about India’s contribution in vaccinating the world against Covid-19, maintaining economic growth amidst tumultuous times, initiating reforms and improving ease of doing business in India, burgeoning technological advancement among other things.

Prime Minister Modi on Monday, January 17, addressed the World Economic Forum’s Davos Agenda where he spoke on a range of issues, making a strong case for global investors to invest in India. In his speech, PM Modi spoke about India’s contribution in vaccinating the world against Covid-19, maintaining economic growth amidst tumultuous times, initiating reforms and improving ease of doing business in India, burgeoning technological advancement among other things.

PM Modi started his speech by emphasising how India had fought the COVID-19 outbreak and empowered the world in its fight against the pandemic by providing vaccines against the contagion. He also drew attention towards the world’s largest food programme undertaken by the Indian government, whereby it provided free foodgrains to 80 crore people of the country.

“In just 1 year, India has administered nearly 160 crore COVID vaccine doses. A democracy such as India has given the entire world a bouquet of hope. The bouquet contains – trust towards democracy, technology to empower 21st century and talent & temperament of us Indians,” PM Modi said.

Highlighting the technological development coupled with the Entrepreneurial spirit embodied by the country, PM Modi said it is the best time to invest in India. “This is the best time to invest in India, given India’s adaptability to new technology. Today, India’s youth have new energy for entrepreneurship. In 2014, there were just a few hundred registered startups. Today, the number has crossed 60,000, several of them unicorns,” PM Modi asserted.

PM Modi said the digital infrastructure developed and adapted by India in the last few years have become a strength to the nation, bringing to attention the Aarogya Setu App and CoWin portal that helped in tracking active COVID-19 cases and booking vaccination slots.

Talking about PM Gati Shakti Master Plan, PM Modi said it will integrate infrastructure, development and implementation, enabling seamless connectivity of goods, services and people.

On Ease of Doing Business, PM Modi said his government is pruning down unneccesary compliances and initiating reforms to attract investment from global companies. He said India has simplified corporate tax and reduced more than 25,000 compliance in the last year.

“We have reduced more than 25,000 compliances. We are working towards becoming the hub of global supply chains. We are also encouraging free trade agreements with many countries,” PM Modi said at the WEF summit.

“While following the path of self-reliance, India’s focus is not only on easing the processes but also on incentivising investment and production. With this approach, today, $26 billion worth of PLI schemes have been implemented in 14 sectors,” he added.

PM Modi also extolled India’s digital payments platform, stating it is the world’s largest, safe and successful payments method that saw 4.4 billion transactions taking place in December 2021 via UPI.

PM Modi said India is moving forward with the idea of “Make in India, Make for the world,” exhorting businesses across the world to invest in the ocean of opportunities offered by India. He said not just telecom, insurance, defence and aerospace, but India is also offering immense opportunities in the field of semiconductors as well.

Expressing concern over the global challenges facing the world, PM Modi said collective and synchronised action by every country is essential to counter them.

“The challenges that we have faced as a family is also increasing due to a change in the global order. For fighting them, collective & synchronized action is needed for each country. Disruptions in supply chains, inflation and climate change are similar examples,” PM Modi said.

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OpIndia Staff
OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

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