According to media sources, Prime Minister Narendra Modi has said that the world is now acknowledging India’s strategic importance due to the mantra of reform, perform and transform being implemented by his government over the last 10 years.
Prime Minister said this while addressing an event through video conferencing which was organised by a media House in Germany’s Stuttgart. The theme of the event was India-Germany: A Roadmap for Sustainable Growth. Mr Modi said that India is the fastest growing economy in the world and every country wants to collaborate with India for development.
Mr. Modi added that ’Focus on India’ document of Germany is an example of it and this document reflects that how the world is acknowledging India’s strategic importance.
Prime Minister said that India has introduced new policies for every sector and prepared itself to achieve a rapid growth in 21st century. Mr Modi said that his government has brought to an end the red tapism to promote ease of doing business. He said, India has strengthened the banking system in the country to make available affordable capital for development.
The Prime Minister highlighted that a strong foundation has been laid on which the grand edifice of Viksit Bharat will be built. He added that Germany will be a dependable partner of India in its development journey.
Mr. Modi said that over the past few years, the mutual partnership between India and Germany has continuously strengthened. He mentioned that more than 1800 German companies are operating in India and these companies have invested 15 billion dollars in the last three to four years. Mr Modi said that the bilateral trade between the two countries has touched around 34 billion dollars and in the coming years this trade will grow further.
Mentioning that manufacturing and engineering have played an important role in Germany’s development journey, PM Modi said that India is also moving towards becoming a huge manufacturing hub of the world. He mentioned that India provides Production Linked Incentive to the manufacturers associated with the Make in India. He said, today, India is one of the leading countries of the world in mobile and electronics manufacturing.
Mr. Modi also emphasised that for fast development of any country, it is important to increase investments in physical, social and digital infrastructure. He said, the work of infrastructure creation is going on at a fast pace on these three fronts in the country. He also invited the German companies to ramp up their investment in India. He also invited those to the country, which still does not have a base in India.
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