Prime Minister Narendra Modi spoke about India’s rise globally at the NDTV World Summit today. He talked about why the 21st century is the ‘Century of India’ and how the country is growing rapidly and how investors across the world are excited about India being the fastest growing major economy.
Launching NDTV World, PM Modi talked about the pace and speed with which India is growing. “Given India’s rapid growth, many global rating agencies have upgraded India’s growth forecasts,” the Prime Minister said. He further added, “Investors across the world are keenly following India’s growth and are excited to invest in the rapidly growing market.”
Referring to global investor Mark Mobius, Prime Minister Narendra Modi said he “advises global fund managers that they should invest at least 50 per cent of their funds in the Indian stock market.” He said this shows how closely investors are watching India’s growth story.
PM Modi said, “Today, India is a nation that is developing at a record pace and is also an emerging global power.”
Over the past ten years, India’s stock market has grown from 22,300 to over 81,000, while it took 63 years from independence for India’s economy to reach $1 trillion GDP. By 2010, it took only seven years to reach $2 trillion. – in 2017, and by 2020 it will reach $3 trillion. India has become the 5th largest economy from the 11th largest economy in the world in less than 10 years.
“I meet many people who say to me, ‘India is now the fifth largest economy in the world, so many milestones have been achieved, reforms have been implemented, then why are you working so hard?’ In the last 10 years, 12 crore toilets have been built, and 16 crore households have had gas connections… Is this enough? My answer is, no. India is one of the youngest countries in the world. The potential is sky high. Can go,” the Prime Minister said.
“There is no respite, no rest in the dreams we have seen, the pledges we have made,” he said.
PM Modi also said that when India grows, the world grows. There is no negativity about India’s development story. He said, this is because India has friendly relations with almost all the countries of the world.
