Prime Minister Narendra Modi on Tuesday said that India’s growth is not only good for Indians but also for the world, adding that it is being achieved with a human-centric approach that can be replicated in other countries too
In an exclusive interview to Moneycontrol.com on Tuesday, PM Modi said, “India’s growth helps further the interests of the Global South. India’s growth helps bring a sense of reliability and resilience to the global supply chain. India’s growth is for the global good.”
The PM said that over the last many years, the world has been keenly watching India’s growth across many sectors.
“Our economic reforms, banking reforms, capacity building in the social sector, work on financial and digital inclusion, the pursuit of saturation in basic necessities such as sanitation, electricity and housing, and unprecedented investment in infrastructure have been hailed by international organisations and domain experts. Global investors also showed their confidence in India by creating records in FDI year after year,” said the Prime Minister.
While the official data showed India’s Q1 FY23 GDP growth at 7.8 per cent, Moody’s Investors Service on Friday raised India’s growth projection for the calendar year 2023 to 6.7 per cent citing robust underlying economic momentum.
In the Global Macro Outlook 2023-24 (August update), Moody’s said strong services expansion and capital expenditures have propelled India’s 7.8 per cent real GDP growth in the second (April-June) quarter from a year ago.
“Given the robust underlying economic momentum, we also recognise further upside risk to India’s economic growth performance,” Moody’s said while raising its 2023 calendar year growth forecast for India to 6.7 per cent, from 5.5 per cent. The global rating agency, however, lowered 2024 growth forecast to 6.1 per cent from 6.5 per cent, citing a high base of 2023.
Talking about the COVID-19 pandemic, he said there was curiosity across the world about how India would fare.
“We fought the pandemic with a clear and coordinated approach. We took care of the needs of the poor and vulnerable. Our digital public infrastructure helped us reach them directly with welfare assistance throughout. The world’s largest vaccine drive provided 200 crore doses free. We also shipped vaccines and medicines to over 150 countries. It was recognised that our human-centric vision of progress had worked pre-pandemic, during the pandemic and after it. At the same time, our economy was a global bright spot for a long time and continued to be so even when the world was facing the multi-dimensional impact of a conflict,” said PM Modi.
He said that over the last 9 years, the world has also witnessed that India was willing to bring various countries together through various initiatives such as the International Solar Alliance and the Coalition for Disaster Resilient Infrastructure, among others.
“Therefore, there was a widespread acknowledgement of India’s words, work and vision as both inclusive and effective, nationally and internationally. At such a time when global trust in our country’s capabilities was at unprecedented levels, we became the G20 President,” said the Prime Minister.
He added, “So, when we laid out our agenda for the G20, it was welcomed universally, because everyone knew that we would bring our proactive and positive approach to help find solutions for global issues. As the G20 President, we are also launching a bio-fuel alliance that will help countries meet their energy needs while also empowering a planet-friendly circular economy.”
Prime Minister Modi said that when global leaders meet him, they are filled with a sense of optimism about India due to the efforts of 140 crore Indians across various sectors.
“They are also convinced that India has a lot to offer and must play a larger role in shaping the global future. This has also been witnessed in their support for our work through the G20 platform,” added the Prime Minister.
With inputs from agencies
from Firstpost India Latest News https://ift.tt/BTL70Mo
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