India’s Path to Economic Superpower: Modi Urges Domestic Industry to Seize Global Investment Opportunities
News Mania Desk/Agnibeena Ghosh/30th July 2024
Prime Minister Narendra Modi emphasized the importance of capitalizing on global investor interest in India during his address at the CII post-Budget conference, focusing on the vision of ‘Viksit Bharat’ by 2047. Modi underlined that with India currently growing at an impressive rate of 8 percent, the country is on track to surpass its present status as the fifth-largest economy and become the third-largest globally. This projection aligns with his ongoing third term, where he expressed confidence in realizing this goal.
In his remarks, Modi highlighted the significant strides made under his administration, noting that the government is committed to making bold decisions with a ‘nation first’ approach. This commitment is evident in various measures outlined in the recent Budget, especially those aimed at bolstering the Micro, Small, and Medium Enterprises (MSME) sector, which plays a crucial role in job creation and economic growth.
Modi’s statement came as he reflected on the transformative journey India has undertaken. He pointed out that previous discussions centered around reviving growth, whereas today, the conversation has shifted towards achieving developed status. This shift, according to Modi, signals a growing confidence in India’s future.
The Prime Minister remarked on the global attention India is receiving, asserting that the country’s policies and investment climate are setting the stage for significant international development. He noted that world leaders are increasingly optimistic about India, which presents a golden opportunity for domestic industries to thrive and contribute to the national goal of becoming a developed nation by 2047.
Modi urged the Indian industry to step up and align itself with the government’s vision of a USD 5 trillion economy and an Aatmanirbhar Bharat (self-reliant India). He stressed that the domestic industry must rise to the occasion and work alongside the government to propel India into the ranks of major global players, particularly in emerging sectors.
The Prime Minister’s call to action is underscored by his belief that India is at a pivotal moment in its economic trajectory. He highlighted that the opportunities presented by global investors should not be squandered. The focus on ‘Viksit Bharat’ signifies a clear direction towards achieving a developed India, with both government policies and industry efforts being critical to realizing this vision.
Modi’s speech serves as a rallying cry for Indian industries to leverage the current global investor enthusiasm and drive forward with innovations and contributions that align with the country’s development goals. His address at the conference reflects a broader strategy to integrate domestic growth with global investment trends, ensuring that India maximizes its potential on the world stage.
