At Vibrant Gujarat Summit, PM Narendra Modi says India World's 6th Largest Manufacturing Country

Prime Minister Narendra Modi said here on Tuesday that India was on the threshold of becoming the world’s largest digitised economy offering immense opportunities to global investors. Mr. Modi was inaugurating the Vibrant Gujarat Summit. In his 35-minute address in English and Hindi, Mr. Modi highlighted his initiatives that have apparently made the country the preferred destination for Foreign Direct Investment (FDI) and the fastest growing major economy. “India alone offers the opportunities that could rival that of an entire continent. It offers today the possibilities of a full century. And we want to do all this in a cleaner, greener, more sustainable way. We are also committed to protecting the environment. This is what India has stood for since ages,” he told the gathering of captains of Indian industries, CEOs of many MNCs and heads of several states and diplomats.

‘Progressive policies’

“For investment, sky is the limit and our policies are very progressive. India is going to emerge as one of the world’s largest construction markets. All this offers unprecedented opportunities for the investment community,” he added, listing the steps his government had taken to improve the country’s ease of doing business ranking and making the policies business and investment friendly. According to him, the government was committed to an India with better opportunities, better purchasing power, better income, better quality of life, and better living standards. “Creating an enabling environment for business and attracting investments is my top priority,” said the Prime Minister, who also stressed that his government was voted to power on a promise of providing “clean governance”.

‘Democracy can deliver’

Calling ‘democracy’ India’s biggest strength, the Prime Minister said: “Some people say democracy cannot deliver effective and fast track governance, but we have seen in the last two and a half years, it is possible to deliver quick results as well.” “India’s strength lies in 3Ds — Demography, Democracy and Demand. Ours is a nation of vibrant youth; the disciplined, dedicated and talented youth of India offers globally unmatched workforce while our middle class offers huge market.” While seeking investments in industrial sectors, Mr. Modi mentioned his social commitments and said, by 2022, his government would provide a house to every poor family and a job to every person in the country.

He announced that India had become the “sixth largest manufacturing nation, up from 9th” and “the government would ensure that the growth process is inclusive and encompasses both rural and urban communities”.