NewzVille Desk
The Prime Minister Narendra Modi addressed the Economic Times World Leaders Forum in New Delhi on Saturday. On the occasion, Prime Minister welcomed all distinguished guests attending the World Leader Forum.
Stating that extensive discussions have taken place at the forum on global circumstances and geo-economics, the Prime Minister emphasized that when viewed in the global context, one can sense the strength of India’s economy.
He highlighted that India is currently the fastest-growing major economy in the world and soon, India is poised to become the third-largest economy globally.
PM Modi cited expert assessments indicating that India’s contribution to global growth is expected to reach nearly 20 percent in the near future. He attributed India’s growth and economic resilience to the macro-economic stability achieved over the past decade.
The Prime Minister shared that India’s fiscal deficit is estimated to decline to 4.4 percent, despite the severe challenges posed by the COVID-19 pandemic.
PM Modi emphasized that when the fundamentals of an economy are strong, its foundation is solid, then the impact is visible across all sectors.
Acknowledging the presence of leading industry figures at the summit, Shri Modi stated that the current times demand active participation from industry and the private sector.
He emphasized the need for increased research and investment, particularly in sectors such as Clean Energy, Quantum Technology, Battery Storage, Advanced Materials, and Biotechnology. “Such efforts will infuse new energy into the vision of a developed India”, stressed the PM.
