"India is today the fastest growing major economy in the world...We are running at 7.5 per cent per year, but will grow even faster in the coming years," he said while addressing the Indian diaspora on the second day of his three-day visit to Malaysia.
"Every major global institution has placed its bets on India growing strongly," Modi said.
He said India is witnessing growth even when rest of the world, including parts of Asian region, are experiencing a slowdown.
Talking about the 18 months of his government, Modi said, there is also a change in the way government is working. "We are making government transparent and accountable. We are eliminating corruption at all levels. We are making governance driven by policies and systems, not by discretion of individuals," he said.
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"There is change in the cities. There is momentum in the villages. And, there is confidence in our citizens, especially our youth. And, there is change in the way government is working," he added.
At the same time, he noted that the world is inter-dependent and "our national progress will depend on the strength and success of our international partnerships... What happens in a far off country can affect the livelihood of workers in another place."
Modi said the decision that may be taken in a conference room in the UN or WTO can affect the life of a farmer in a village in India and the lifestyle in one part of the world affects climate and agriculture in another part of the world.
Referring to the initiatives regarding the financial
inclusion, the Prime Minister said banks had been nationalised 40 years ago with an argument that it was for the benefit of the poor people.
"40 years passed but the doors of banks had not opened to the poor people. After our government came, we decided that the poor people should have accounts in banks. By now, 20 crore new bank accounts have been opened (since the Jandhan Yojana was launched in late 2014)," he said.
"The poor people live by their values and principles. That is why they did not want to keep their accounts with zero balance," he said.
He then talked about Mudra Yojana under which loans are given to the poor people. "In 5-6 months, two crore people have got loan under this scheme. Without any guarantees... just on the basis of trust, Rs 80,000 crore have been disbursed under this scheme," the Prime Minister said.
While talking about the electric rickshaws, he said these vehicles would benefit not only those using these and their families but also help in the fight against the global problem of climate change.
Modi said that drivers were the first contact for tourists and key in shaping the image of the country when they interact with the travellers. He said e-visas are being given to more than 100 countries and special training will be imparted to drivers about their conduct.
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With regard to the Mudra scheme, Modi said "Its result will be visible soon."
The Prime Minister, while distributing 2,100 e-rickshaws, said "when a foreigner comes, he first comes across a driver. The behaviour of a driver within the first 10-15 minutes reflects the image of the country... If the behaviour is good the visitor would never forget that," he said.
Rajnath Singh, while addressing the function, said it was for the first time in the history of the country that a Prime Minister had encouraged the rickshaw pullers.
"The manner in which you (PM) have understood the feelings of ricksaw pullers...The feeling they are having is visible from their faces," he said while praising the PM.
Before returning to Delhi, Modi garlanded the statue of Ambedkar at Ambedkar Mahasabha office opposite Vidhan Bhawan building.