PM Modi Addresses Newsweek: India as a Global Economic Growth Engine

  • April 10, 2024, 11:15 p.m.

In a recent interaction with Newsweek, Prime Minister Narendra Modi addressed several pertinent issues, marking his presence as the first Indian Prime Minister to be featured on the Newsweek cover since former PM Indira Gandhi.

During a 90-minute conversation, PM Modi responded to written questions, shedding light on India’s position in the global economic landscape and its competition with China. He stated, “India, as a democratic polity and global economic growth engine, is a natural choice for those looking to diversify their supply chains.”

PM Modi highlighted the transformative economic reforms undertaken by his government, including the implementation of the Goods and Services Tax, corporate tax reduction, the introduction of the bankruptcy code, reforms in labour laws, and relaxation in FDI norms. These measures have significantly improved India’s ease of doing business.

“We believe that when a country with one-sixth of the world’s population adopts global standards in these sectors, it will have a big positive impact on the world,” PM Modi told Newsweek. He emphasized that India’s policies encouraging businesses and entrepreneurship, coupled with world-class infrastructure and availability of skilled talent, have yielded results.

Major global manufacturing entities have set up shops in India, making it globally recognized for manufacturing world-class goods at a competitive cost. “Apart from producing for the world, the vast Indian domestic market is an added attraction,” PM Modi added.

This interaction provides a comprehensive insight into PM Modi’s vision for India’s economic growth and its role in the global supply chain.

Author : Rajdhani Delhi Representative

Rajdhani delhi representative

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