It's unprecedented time to invest in India, says PM Narendra Modi

Prime Minister Narendra Modi on Friday said the combination of a stable government, supportive policy system, mentality of transformation through reform, and confidence in development had brought unique opportunities for Indian companies and investors. 

“I think this is an unprecedented time for India, for Indian companies, for Indian investors. I assure the countrymen that in my third term, the country will be among the first three in the world. Stable government, supportive policy system, mentality of transformation through reform, and confidence in development, such a combination has happened for the first time. So, I say this is the time, the right time. This is India's time,” Modi said at a global investors’ summit organised by the Uttarakhand government here. 

The prime minister sought the cooperation of businessmen to strengthen the local supply chains and MSMEs to boost the economy of the country. “We have to develop a new supply chain so that our dependency on foreign countries becomes minimal. We have to come out of the old mentality of buying foreign products at a cheaper price. We have suffered a lot due to this mentality,” he said. 

Modi called upon the businessmen to focus on capacity building in India. “More than focusing on increasing exports, you should also focus on bringing down imports,” he said. By doing this, it will spurt the growth of the Indian economy, he said. “We spend Rs 15 trillion on imports of petroleum products. Despite being a leading producer of coal, India still imports Rs 4 trillion of this carbon-product. We are even buying pulses and oilseeds from abroad. Even the nutrition products are being imported,” he said.

The prime minister said the double efforts of the double-engine government were being seen all around because the state government was implementing the Centre’s schemes on the ground very fast. “The central government is making unprecedented investment in the infrastructure sector in the state for improving connectivity. Be it village roads or Chardham highway project, the road development work is going at a very fast pace. The day will not be very far away when the distance between Dehradun and Delhi will be cut short to 2.5 hours only,” he said.

He mentioned that air connectivity would also get a boost with the expansion of Dehradun and Pantnagar airports. Heli-taxi services are also being given expansion. The rail connectivity is going to be improved with the completion of the Rishikesh-Karanprayag rail project. “Every new road brings a golden opportunity for the businessman,” he said. After the aspirational districts programme, the government wants to bring a new scheme called the aspirational block scheme. All those who were left behind in the race of development are being moved forward through this scheme, he said. 

Modi said his government was preparing a theme-based tourism scheme in the country. Efforts are underway to introduce the world to the rich nature and heritage of the country. In this endeavour, Uttarakhand tourism will emerge as a strong brand. “Here nature, culture, heritage, and everything is here. Yoga, Ayurveda, adventure sports have tremendous potential. Exploit this potential and turn them into opportunities. This should be the priority,” he asked the businessmen.

Modi also called upon the rich people of the country to organise marriages in India only instead of going abroad. “Why are you travelling abroad for marriages? Just like Make in India, there should be a new campaign Wed in India,” he said. In the next five years, at least one destination wedding should be organised in Uttarakhand, he said, adding that 5,000 such weddings would give rise to new infrastructure in the state. Through this move, Uttarakhand will emerge as a new wedding destination of India, he stated.

The consumption-based economy is making rapid strides. The middle class is playing a big role in the market economy, which in turn will also benefit Uttarakhand. He also congratulated the state government for launching “House of Himalayas,” a new brand for boosting local products.

He said his government had launched a scheme to produce 20 million ‘lakhpati didis’. He also asked the businessmen to identify such talent in the state and said this would be an amazing partnership.