Indian economy has benefited from climate of political stability in country : PM Modi

Speed Post News Network

New Delhi : Prime Minister Narendra Modi delivered the keynote address at the Bloomberg Global Business Forum in New York, USA, on September 25, 2019. Addressing the gathering, the Prime Minister said that he would use this opportunity to talk about the future direction of India’s growth story. He said that India’s growth story was built on four pillars, namely Democracy, Demography, Demand, and Decisiveness. PM Modi noted that the Indian economy has benefited from the climate of political stability in the country.

The Prime Minister also highlighted global recognition of the successful reforms introduced by the Government. In this regard he mentioned the ten rank jump in the Logistics Performance Index, thirteen point jump in the Global Competitiveness Index,  twenty- four rank rise in Global Innovation Index; along side the sixty-five rank improvement in the Ease of Doing Business index calculated by the World Bank.

The Prime Minister also spoke of the Bloomberg National Brand Tracker 2018 survey that recently ranked India as the top performing Asian economy in attracting global investment. In 7 out of 10 indicators of this report i.e. political stability, currency stability, high quality products, anti-corruption, low cost of production, strategic location and respect for IPRs, India has been ranked at the top position, according to a PIB release.

On the technology and innovation front, PM Modi invited the global business community to invest in India and stated that their technology and India’s talent can together change the world; their scale combined with India’s skill-set can accelerate global economic growth. The Prime Minister’s Keynote was followed by an interactive session with the founder of Bloomberg  Michael Bloomberg.