PM Modi pleads to ‘invest in India’ at WEF’s online Davos Agenda 2022

On Monday, January 17, Prime Minister Modi addressed the Davos agenda of the World Economic Forum where he addressed a series of issues, making the case for global investors to invest in India. In his speech, Prime Minister Modi talked about India’s contribution to vaccinating the world against Covid-19, sustaining economic growth in these tumultuous times, initiating reforms and improving the ease of doing business in India, among others to the burgeoning technological advancement.

Prime Minister Modi started his speech by highlighting how India had fought the COVID-19 outbreak and empowered the world to fight the pandemic by providing vaccines against the contagion. He also drew attention to the largest food program in the world undertaken by the Indian government, through which it provided free food grains to 80 million people in the country.

“In just 1 year, India administered almost 160 million doses of COVID vaccine. A democracy like India has given the whole world a bouquet of hope. The bouquet contains – confidence in democracy, technology to empower the 21st century and the talent and temperament of us Indians,” Prime Minister Modi said.

Highlighting the technological development coupled with the entrepreneurial spirit embodied by the country, Prime Minister Modi said that now is the best time to invest in India. “Now is the best time to invest in India, given India’s adaptability to new technologies. Today, Indian youth have a new energy for entrepreneurship. In 2014, there were only a few hundred registered startups. Today, the number has exceeded 60,000, including several unicorns,” Prime Minister Modi said.

Prime Minister Modi said the digital infrastructure developed and adapted by India over the past few years has become a strength for the country, drawing attention to the Aarogya Setu app and the CoWin portal which have helped track active cases of COVID-19 and reserve vaccination slots.

Speaking about Prime Minister Gati Shakti’s master plan, Prime Minister Modi said it will integrate infrastructure, development and implementation, enabling seamless connectivity of goods, services and people.

On the ease of doing business, Prime Minister Modi said his government was reducing unnecessary compliance and launching reforms to attract investment from global companies. He said India has simplified corporate tax and reduced more than 25,000 compliances in the last year.

“We have reduced over 25,000 compliances. We strive to become the hub of global supply chains. We are also promoting free trade agreements with many countries,” Prime Minister Modi said at the WEF summit.

“While following the path of self-reliance, India is focusing not only on easing processes but also on incentivizing investment and production. With this approach, today, $26 billion of LIP programs have been implemented across 14 sectors,” he added.

Prime Minister Modi also touted India’s digital payment platform, saying it is the world’s largest, most secure and successful payment method, which has recorded 4, 4 billion transactions in December 2021 via UPI.

Prime Minister Modi said India is moving forward with the idea of ​​”Make in India, Make for the world”, urging businesses around the world to invest in the ocean of opportunities offered by India. India. He said that not only telecommunications, insurance, defense and aerospace, India also offers immense opportunities in semiconductors.

Expressing concern about the global challenges facing the world, Prime Minister Modi said collective and synchronized action by every country is essential to counter them.

“The challenges we have faced as a family are also increasing due to a shift in the global order. To combat them, collective and synchronized action is needed for every country. Disruptions to supply chains, l inflation and climate change are similar examples,” Prime Minister Modi said.

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