Modi said the partnership between India and the United States can change the destiny of the 21st-century world
Prime Minister Narendra Modi on Friday pitched India as the prime investment destination in the world and urged American businesses and the Indian diaspora to take “first and fast mover advantage” as New Delhi continues its growth story.
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“There comes a time in the development journey of every country when it sets a new goal with new energy. Today India is also passing through a similar time frame,” PM Modi said in an interaction with the American professionals and diaspora on the last day of a four-day visit to the country.
“Today, India is investing a record USD 125 billion in infrastructure development. There are limitless possibilities for America in this growth story of India. It’s Time For you guys to take that First And Fast Mover Advantage,” he added.
Addressing the US-India Strategic Partnership Forum, Modi said today an unprecedented phase of reforms is going on in India and the country’s extreme poverty is declining at a very fast pace.
The Prime Minister also underlined that India has the solution to a major global challenge, aging. “Today India has the biggest talent pool of young people. India also has the biggest skilled and professional workforce,” he added.
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On the economic front, PM pointed out how India has managed to sustain a significant growth rate in the post-pandemic world in which the economy, inflation and supply chain aren’t in good shape.
“…Amid all these, India is moving forward with a growth rate of more than 7%. It hasn’t happened by itself. Today, in India, a phase of reforms is going on,” he added.
India is continuously increasing capex while keeping the fiscal deficit under control, he said. “Our exports are increasing, forex is increasing and new records of FDI are being created. American companies have invested more than $16 billion in India in the last 2-2.5 years,” PM Modi added.
On India-US ties, Modi said this partnership can change the destiny of the 21st-century world, adding that that relationship is not a matter of “convenience but a conviction” to make the world a better place.
“This partnership (India-US) is not based on convenience but a conviction. This partnership is of shared comment for a better world,” Modi said.
Underlining the growing India-US ties, the Prime Minister said that both countries are marching ahead as most reliable partners.
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“The Indo-US Defense Partnership is building a special kind of relationship with the people of almost every state in America. …Indian companies are investing billions of dollars in America. Indian companies are going global,” he said.
Prior to this, the Prime Minister met with US and Indian technology CEOs in Washington on the final day of a state visit.
President Joe Biden and Modi gathered with CEOs including Apple’s Tim Cook, Sundar Pichai and Microsoft’s Satya Nadella.
The CEOs discussed the enormous opportunities and ways to deepen institutional cooperation in cutting-edge tech and R&D between the two countries.
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The Prime Minister underlined the immense potential of harnessing India-US tech cooperation for socio-economic growth.
