World looks at India as global growth engine, trusted friend and pillar of stability: PM Modi

Prime Minister Narendra Modi on Wednesday said India has emerged as a new ray of hope amid many uncertainties being faced globally and the world looks at it as an important pillar of stability a trusted friend and an engine of growth in the global economyHe also said that in the rapidly changing world order India is moving forward as vishwa mitra friend of the worldSpeaking at the inauguration of the 10th edition of the Vibrant Gujarat Global Summit which saw participation of state heads and CEOs of top private companies Modi said all major rating agencies are of the opinion that India will be among the three largest economies of the world in the next few yearsIn the rapidly changing world order India is going ahead as vishwa mitra India has given hope to the world that we can decide on common goals and achieve them Indias commitment to world welfare its dedication efforts and hard work are making todays world more secure and prosperous he saidToday the world looks at India as an important pillar of stability a friend who can be trusted a partner who believes in peoplecentric development a voice that believes in global good a voice of global south an engine of growth in the global economy a technology hub for finding solutions a powerhouse of talented youth and a democracy that delivers he addedAll major rating agencies are of the opinion that India will be among the three largest economies of the world in the next few years Modi said adding that it is his guarantee that the country will achieve thisToday India has given this assurance to the world that we can set common goals and achieve our goals Indias commitment to world welfare Indias loyalty efforts and hard work are making todays world more secure and prosperous he saidThe priorities and aspirations of 14 billion people of India their trust in humancentric development our commitment for inclusivity and equitability are a major basis for world prosperity and world development he addedAt a time when the world is surrounded by many uncertainties India has emerged as a new ray of hope for the world the prime minister saidIndias priorities are clear Indias priorities are sustainable industry infrastructure and manufacturing new age skills futuristic technology AI and innovation green hydrogen renewable energy semiconductors and its entire ecosystem he saidIf there is so much resilience and growth momentum in Indias economy in a global situation existing today then the big reason behind this is our focus on structural reforms in the last decade These reforms have increased the capacity capability and competitiveness of Indias economy he saidIndia recently celebrated 75 years of its independence and in the next 25 years it will celebrate 100 years These 25 years are amrit kaal for India for which a goal of making it a developed country has been set he saidThe PM credited UAE President Sheikh Mohamed bin Zayed al Nahyan who attended the summit as the chief guest for the high growth of IndiaUAE relationsThe future of 21st century India will become bright with our collective effort Even during the G20 presidency India provided a roadmap for a global future and is taking forward the vision in this edition of VGGS he addedIndia is continuously strengthening its partnership with I2U2 Group comprising India Israel the United Arab Emirates and the United States and other multilateral organisations Modi saidHe said his government has made Indias banking system strong through recapitalisation and use of information technology ended more than 40000 compliances through the ease of doing business GST and global supply chain diversionWe signed three FTAs so as to make India a more attractive destination for global business One of the FTA is with the UAE We have opened many sectors for FDI through automatic routes Today India is making record investment in infrastructure he saidIn 10 years Indias capex has grown five times and the country is also moving fast in green energy and renewable energy sectors with three times increase in green energy and twenty times in solar energy capacityIn 10 years cheaper phones and data have brought about a new revolution of digital inclusion Expansion of optical fibre to every village and expansion of 5G is changing lives of common India We are the worlds third biggest startup ecosystem Modi saidHe said the changes happening in India are increasing the ease of living of citizens and empowering themIn the five years of our government more than 135 crore people have come out of poverty and the average income of people has increased along with the participation of female workforce which is a very good signal for Indias future he said and called upon the world to join Indias growth journeyThe government is working to improve logistics and ease of transportation with the number of airports grown from 74 to 149 national highway network twice and metro train network thrice in the last ten years he saidIt is a matter of happiness for us to have my brother His Highness Sheikh Mohamed bin Zayed Al Nahyan to participate in the event His presence as a chief guest at the VGGS indicates an increasingly intimate relationship between us His faith in India and his support were very warm he saidThe two countries have signed MoUs for development of food parks cooperation in renewable energy and investment in the health sectorCompanies have also agreed to invest multi million dollars in Indias port infrastructure he said UAEs sovereign welfare will begin operation in GIFT City and transworld companies are also going to start aircraft and ship leasing activities he saidThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever