The country is on course to become the world's third-largest economy in the next few years
Indian Prime Minister Narendra Modi addressed the Invest Madhya Pradesh-Global 2023 World Investor Summit by video conference on Wednesday, 11 January.
Modi stressed that India is an attractive destination for investment. The Prime Minister said the optimism was due to a strong democracy, a large number of active young people and political stability.
"Thanks to these factors, India is making decisions that enhance livability and ease of doing business. Since 2014, the republic has been on a path of reform, transformation and achievement. The country has become an attractive destination for investment," the Prime Minister said.
He also said that the institutions and reputed experts who monitor the global economy have unprecedented confidence in India. "This is because of India's strong macroeconomic fundamentals," the politician stressed.
The Prime Minister also said India's focus on strengthening multimodal infrastructure was opening up new opportunities for investment in the country.
"Today's new India is going forward with confidence in its private entrepreneurship. We have opened up several strategic sectors like defence, mining and space to them," Modi revealed.
Quoting data from the Organisation for Economic Cooperation and Development (OECD), the Prime Minister said India would be one of the fastest growing economies in the G20 group this year. The country is on course to become the world's third-largest economy in the next four to five years, as reported by ANI, a partner of TV BRICS.