PM Narendra Modi Hails Mark Mobius' 'Invest Half The Capital In India' Call
PM Narendra Modi said the first 125 days of his government's third term has accelerated the growth agenda and investors are taking note.
Prime Minister Narendra Modi on Monday said India remains an attractive destination for global investors in a world gripped with trade and geopolitical tensions. He said the first 125 days of his government's third term has accelerated the growth agenda and investors are taking note.
"In the these 125 days, the Nifty and Sensex has seen 6-7% of growth. Our forex reserves have increased from $650 billion to over $700 billion. India's list of achievements is very long," Modi said in his keynote address at NDTV World Summit 2024 in New Delhi.
He said rating agencies have increased their growth forecasts of India's economy after taking note of the government's actions in the first 125 days.
The PM mentioned veteran investor and Mobius Capital Partners LLP founder Mark Mobius and his perennial enthusiasm for the India story.
"As who loves India, when Mark Mobius says he is excited about India, it has a lot of credence. When he tells global funds to invest at least half their capital in Indian share markets, it gives a big signal," PM Modi said, drawing applause.
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The prime minister said India understands the challenges of fighting poverty and at the same time, making way for development. "Our government is working on an accelerated speed on reforms and framing policies."
He also highlighted that India is making progress on creating infrastructure and skillsets for Industry 4.0.
"In every global summit, the world discusses India's revolutionary digital payments ecosystem. Innovations like Aadhar, UPI, DigiLocker have received big commends," said Narendra Modi.
"India's pledge to be a developed nation by 2047 needs us to understand what we need to do. It requires a forward-looking approach. It is now a people's movement. We have taken suggestions from lakhs of people to prepare the roadmap for developed nation in 25 years," Modi added.
