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Strong democracy drives global agencies’ trust in India: PM Modi

Prime Minister Narendra Modi said on Wednesday that the country’s “strong democracy, young population, and political stability” are driving the “optimism” expressed by many foreign agencies regarding the Indian economy.

Modi stated during the opening session of the Madhya Pradesh Global Investors’ Summit in Indore that the role of the state will be critical in the development of a developed India.

Modi stated that institutions and reliable voices that watch the global economy, such as the International Monetary Fund (IMF) and the World Bank, have demonstrated unprecedented trust in India.

“This optimism for India is driven by a robust democracy, young population and political stability. As a result of these factors, India is making decisions that improve the ease of doing business and the ease of living. Even during a once-in-a-century crisis, we pursued changes. “India has been on a’reform, transform, and perform’ road since 2014,” he remarked.

Modi noted that the IMF considers India to be a “bright spot” in the world economy, and that the World Bank believes India is better positioned to deal with global challenges than many other countries. “This is due to India’s solid macroeconomic fundamentals,” he continues.

The IMF projected 6.8 percent growth in 2022 in its World Economic Outlook released last October, compared to 8.7 percent in 2021 for India. Modi stated that global investors share his optimism. “Your [delegates’] presence here shows this sentiment,” he added.

Tata Sons chairperson N Chandrasekaran, Lulu Group chairman M A Yusuff Ali, and Adani Enterprises director Pranav Adani were among the business executives present at the first session.

“The total value of our ongoing projects is approximately Rs 27,500 crore. We work in the electricity, gas, cement, roadways, agricultural processing, defence, and irrigation industries. I am pleased to inform that we will not only continue to invest in all of these industries, but we will also dramatically extend our presence in MP. “As part of our commitment to the state, we would invest more than Rs 60,000 crore in a wide range of projects and sectors,” Adani added.

The PM also urged investors to take “full advantage” of the Production Linked Incentive (PLI) programmes, which have so far resulted in incentives totaling more than Rs 2.5 lakh billion. According to the Prime Minister, Madhya Pradesh is a location of originality, splendour, and awareness (ajab, ghazab, sajag), a famous tagline for state tourism.

The two-day summit is being held at Indore’s Brilliant Conference Centre, which previously hosted the three-day Pravasi Bharatiya Divas convention, which concluded on Tuesday.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan addressed the convention, stating that the summit has ten partner countries: Canada, the Netherlands, Mauritius, Bangladesh, Zimbabwe, Guyana, Suriname, Japan, Panama, and Fiji.

Chouhan claimed that the rate of growth in MP is “the highest in the country,” at 19.76% in current prices. He stated that the state’s contribution to the country’s GDP is 4.6 percent, with a GSDP of Rs 12-lakh crore.

According to the Madhya Pradesh government, the primary goal of the event is to display the state’s industrial ecosystem, promote state policies, hold talks with industrial organisations to establish industry-friendly regulations, and explore collaboration prospects.

“The event will be a venue for global leaders, industrialists, and experts to share their narratives on developing markets and trends, as well as strategies to exploit Madhya Pradesh’s investment potential,” it said in a statement.



Hi, my name is Nisha and I'm an educational journalist based in India. I've always been passionate about the power of education to transform lives, and that's what led me to pursue a career in journalism focused on this area. I completed my Bachelor's degree in English from Hindu College in Delhi in 2013 and then went on to earn my Master's in Journalism and Mass Communication from the Indian Institute of Mass Communication in 2017. During my studies, I also completed several short-term courses on Education in India, Sociology, and other related subjects to deepen my knowledge in this field. I'm particularly interested in improving access to quality education in rural areas, where students often face significant challenges. I've worked on a number of initiatives to address this issue, including advocating for better policies, resources, and practices that can make a difference. As an educational journalist, I'm passionate about using my platform to highlight important issues in the education space. I've covered a wide range of topics, including the impact of technology in the classroom, innovative approaches to teaching and learning, and the challenges facing students from marginalized communities. One of the things I love most about my work is the opportunity to constantly learn and grow. I'm an avid reader and believe that reading is key to expanding one's knowledge and perspective. I'm always seeking out new ideas and insights to help me better understand the world around me. In summary, as an educational journalist, I'm dedicated to using my skills and expertise to make a positive impact in the field of education. I'm committed to improving access to quality education for all students and to using my platform to raise awareness about important issues in this area.

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