World considers India as bright spot: PM Modi at Invest Karnataka Summit

2 November, 2022 | Pragati Singh

modi Top News

Despite the world being in the grip of a “global crisis,” Prime Minister Narendra Modi remarked during his virtual address in Karnataka that India is a “bright spot” as we c...

Despite the world being in the grip of a “global crisis,” Prime Minister Narendra Modi remarked during his virtual address in Karnataka that India is a “bright spot” as we continue our endeavours to strengthen the fundamentals of our economy.

“Although it is a time of global crisis, economists and experts across the world are describing India as a bright spot. We continue to work on our fundamentals to strengthen our economy. The free trade deals that have been signed give the world a glimpse of our preparedness,” PM Narendra Modi said during his virtual inaugural address of Invest Karnataka 2022 Summit¬†.¬†He said that India has eased the investments by rationalising the laws instead of making them more stringent.

“We’ve freed our investors from red tapism and given them a red carpet of opportunities. We encouraged them in various sectors that were earlier closed to private investments such as defence, drones, space and geospatial mapping,” PM Modi said adding that the New India now focuses on bold reforms, big infrastructure, and the best talent in the country.

Talking further, the Prime Minister said that India has set up a benchmark for the world when it comes to renewable energy as “our potency for renewable energy increased three folds in the last eight years and that of Solar energy up to 20 times.”

Remarking that the investment in India means “Investment for the Inclusion, Democracy, World, a better and a cleaner-safer planet,” PM Modi lauded the youth of the country stating that the nation is moving forward with its attempts.

“The youth of India has made more than 100 unicorns here and in the last eight years, they have successfully launched more than 80 thousand new startups,” he added mentioning the aim of the PM-GatiShakti National Master Plan.

He said that the PM-GatiShakti NMP aims at ‘integrated infrastructure development’ in the country.
In his address, PM Modi also praised Karantaka and the “double engine government” here for making it possible for setting up business startups.

“It is the place where there is both tradition and technology along with a unique confluence of nature and culture. When we talk of talent and technology, the first thing that comes to mind is the brand Bengaluru, which has now been established worldwide,” he said.

The Invest Karnataka 2022, Global Investors Meet is a three-day event with over 80 speaker sessions aimed at engaging prospective investors and establishing a development strategy for the next decade.

According to a previously released official statement by the PMO, the program’s speakers included major industry leaders such as Kumar Mangalam Birla, Sajjan Jindal, and Vikram Kirloskar, among others. Parallel to this, a variety of business exhibitions with over 300 exhibitors and country sessions would take place.

The event’s global scope is expected to provide an opportunity for Karnataka to promote its culture to the rest of the globe.