Prime Minister Narendra Modi on Friday said the guarantee to world prosperity lies with India, as he urged investors to bet on the country and on Uttar Pradesh.
Welcoming foreign delegates and Indian industry leaders to the three-day Uttar Pradesh Global Investors Summit, Modi linked the world’s economic well-being to that of India.
Inaugurating the mega event, Modi referred to the “double-engine” government with the BJP in power both at the Centre and in Lucknow and called UP a state full of possibilities.
“There cannot be a better partnership than this. Let’s not waste this time. World’s prosperity lies in India’s prosperity. The bright future of the world is guaranteed in the bright future of India,” he said.
Modi said Uttar Pradesh inspired hope. “If India is a bright spot for the world, UP is providing important leadership for India’s growth.”
The prime minister referred to the impact of the Covid pandemic and the war in Ukraine on the global economy and said India emerged quickly out of the crisis, showing resilience.
“The biggest reason for this is the increasing self confidence of Indians,” Modi said, adding that the country is seeing a big change in the mindset of its youth and society’s aspirations.
Every Indian citizen now wants to see more development, as quickly as possible, he said.
“The aspirations of Indian society today are giving a push to the governments as well, and these aspirations are also adding pace to development work,” the PM said.
“Like entire India, a very large aspirational society is waiting for you now in UP,” he told potential investors.
Defence Minister Rajnath Singh, Uttar Pradesh Governor Anandiben Patel and Chief Minister Yogi Adityanath attended the summit launch. Industrialists Mukesh Ambani, Kumar Mangalam Birla and N Chandrasekaran also addressed the event.
The prime minister talked about work on physical and digital infrastructure, seamless markets and simplified bureaucratic procedures. He said reforms in India are being carried out not because of compulsion, but because of conviction.
“India today is truly on the path of pace and scale. We have fulfilled the basic needs of a large section and that is why it is thinking of the next level, thinking of the future,” he said.
This, he added, is the biggest reason for having confidence in India.
Modi said Uttar Pradesh was once known as a “BIMARU” state, referring to an acronym for Bihar, Madhya Pradesh, Rajasthan and Uttar Pradesh. “Bimaru” also means “sick” in Hindi.
But the state now inspires hope. “If India is a bright spot for the world, then it is UP, which is driving the growth of India,” he said.
“Within five or six years, UP has established a new identity for itself,” he said indirectly referring to the period under a BJP government in the state.
“Now, UP is being identified by good governance. Now, UP is being identified by better law and order, peace and stability. Now, wealth creators here will get new opportunities,” Modi said.
Speaking before him, industry leaders asserted that the country is on a strong growth path and the target of becoming a USD 25 trillion economy when it celebrates the 100th year of Independence is achievable.
They credited Modi with guiding the country with vision and laser-sharp focus on execution towards a bold ‘New India’.
“I am confident that India is on a very strong growth path,” Mukesh Ambani, chairman and managing director of Reliance Industries, said.
Tata Sons chairman N Chandrasekaran praised Modi’s “strong visionary leadership” and said the recent Budget laid a very strong foundation with its “tremendous investment towards infrastructure development”.
Aditya Birla Group chairman Kumar Mangalam Birla said India is now the fastest growing large economy in the world, and is poised to become the third largest economy by 2030.
“As a global business group, we operate in 36 countries and I can confidently say that India today stands out amongst all of them. There is perhaps no other country in the world that combines robust democracy, transformational governance, economic might, demographic dynamism and entrepreneurial energy,” he added.
