Global Investors Setting Their Sights on India: A Golden Opportunity for India Inc., Says PM Modi
India is rapidly becoming a beacon of growth and stability, drawing the attention of global investors and earning positive vibes from world leaders. Prime Minister Narendra Modi, addressing a CII post-Budget conference titled ‘Journey Towards Viksit Bharat’, underscored India’s ascension towards becoming the world’s third-largest economy within the next five years. He encouraged India Inc. to leverage this ‘golden chance’ and contribute to India’s development trajectory.
“The global community is now focusing its gaze on India and its industries. Our government’s policies, dedication, and strategic investments are laying the groundwork for worldwide advancement. This presents an unprecedented opportunity for Indian industry to not misplace,” Modi articulated, emphasizing the global enthusiasm for investing in India.
The Prime Minister delineated his recent interactions with state chief ministers during a NITI Aayog meeting, urging them to formulate investor-friendly charters, enhance clarity in investment protocols, and create an environment conducive to investment. Amidst a global backdrop characterized by high inflation and low growth, Modi spotlighted India’s exceptional economic performance, boasting high growth rates coupled with low inflation.
Confident in his forecast, Modi projected India’s leap to the third-largest global economy from its current fifth position, an achievement he believes will be realized during his third tenure. Citing the government’s indomitable political resolve, he reiterated the commitment to a ‘Nation First’ ethos, encapsulating this vision in the aim for a 5 trillion dollar economy, a saturation approach to development, the pursuit of Zero Effect-Zero Defect manufacturing, and the ambitious Aatmnirbhar Bharat initiative towards a developed India by 2047.
The Prime Minister urged the domestic industry to not only keep pace with the government’s efforts but to also strive to make India a leading nation in emerging sectors. He revisited several measures introduced in the recent Budget, particularly highlighting initiatives aimed at bolstering the MSME sector, a critical employment generator.
Underlining the emphasis on skills development and employment generation in alignment with the demands of Industry 4.0, Modi showcased India’s vibrant startup ecosystem, which employs lakhs and promotes entrepreneurship via initiatives like Mudra Yojana, Startup India, and Standup India. The PM Package announced in the budget, he noted, is set to benefit over 4 crore youths, aiming to bolster India’s workforce and product quality on the global stage.
The transformative impact on India’s manufacturing ecosystem, ease of doing business through FDI norms relaxation, and strategic initiatives like Make in India, were praised for fostering an environment ripe for investment and innovation.
As Modi delved into the latest budget announcements—from infrastructural development projects across 100 districts, advancements in nuclear power, to initiatives in agriculture and the emerging space economy—he asserted these measures will pave new paths of progress for the nation.
The Prime Minister’s address did not shy away from the promising horizon in sunrise sectors, with a special nod to the importance of becoming leaders in the semiconductor and electronics manufacturing spaces. Moreover, clean energy initiatives were spotlighted as pillars for sustainable growth, emphasizing the parallel importance of energy security and transition.
“Our industries and entrepreneurs have consistently demonstrated a commitment to the nation’s advancement,” Modi remarked, expressing optimism in India Inc.’s role in seizing these opportunities and propelling India on the global stage in these pivotal sectors.
Drawing an inspiring parallel, Modi compared the budgetary growth from Rs 16 lakh crore during the last budget of the previous government to a sizable Rs 48 lakh crore today, symbolizing an era of exponential growth and development. Particularly striking is the capital expenditure increase, from Rs 2 lakh crore in 2014 to an impressive Rs 11 lakh crore today, showcasing the government’s investment in building a robust foundation for Viksit Bharat’s journey.
As India strides towards this vision of a developed nation by 2047, Modi’s clarion call to India Inc. is not just about capitalizing on the golden chance but also about collaborative effort and vision, ensuring that the country doesn’t just grow economically but evolves as a beacon of sustainable and inclusive development on the global stage.
