Despite the world going through a phase of ‘Global crisis’, the world considers India as a “bright spot” as we continue our initiatives to strengthen the fundamentals of our economy, 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 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 Invest Karnataka 2022 Summit . He said that India has eased the investments by rationalising the laws instead of making them more stringent.
“We’ve freed our investors from red tapism 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.
In his address, PM Modi also praised Karantaka and the “double engine government” here for making it possible for setting up business startups.
“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 Invest Karnataka 2022, Global Investors Meet is a three-day programme and has more than 80 speaker sessions aiming at attracting prospective investors and setting up a development agenda for the next decade.