“New India focuses on bold reforms,” PM Modi atvInvest Karnataka Summit

As we continue our measures to enhance the fundamentals of our economy, the world still views India as a “bright spot” despite the fact that the world is going through a moment of “global crisis,” Prime Minister Narendra Modi said during his virtual address in Karnataka.

“Although it is a time of global crisis, economists and experts across the world are describing India as a bright spot. We will 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 the Invest Karnataka 2022 Summit .

“We’ve freed our investors from red tape 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.

The Prime Minister continued by stating that India has become a global leader in the use of renewable energy because “our capacity for renewable energy has expanded three fold in the previous eight years and that of solar energy up to 20 times,” he continued.

PM Modi praised the nation’s youth and said that the country is making progress with its efforts, saying that investing in India means “Investing for the Inclusion, Democracy, and World, a better and cleaner-safer planet.”

“The youth of India have 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.

According to him, the PM-GatiShakti NMP seeks to improve the nation’s infrastructure “integratedly.”

The “double engine government” in Karantaka, which PM Modi commended in his speech, has made it feasible for new businesses to get off the ground.

“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 three-day Invest Karnataka 2022, Global Investors Meet features more than 80 speaker sessions with the goal of luring potential investors and creating a development strategy for the next ten years.

Some of the biggest businessmen were scheduled to speak at the programme, including Vikram Kirloskar, Sajjan Jindal, and Kumar Mangalam Birla, according to a PMO official statement that was previously made public. In parallel to this, other business shows with over 300 exhibitors and national sessions would take place.

The event’s international scope should provide Karnataka with an opportunity to introduce the world to its culture.