India set to be most digitised economy: PM Modi

Inaugurating the eighth edition of the Vibrant Gujarat Global Summit, Modi said: “It is our vision and mission to bring a paradigm shift in the ways of our polity and economy.

Written by Avinash Nair | Gandhinagar | Published:January 11, 2017 4:28 am
Vibrant Gujarat Global Summit, narendra modi, PM modi, digital payment, demonetisation, cashless economy, no cash, digitised economy, make in india, indian express news, india news PM Narendra Modi with Ratan Tata at the Vibrant Gujarat Global Summit 2017 in Gandhinagar on Tuesday. PTI photo

PROMISING A “paradigm shift” in “polity and economy”, Prime Minister Narendra Modi said on Tuesday that India has become the sixth largest manufacturing hub of the world, and is “on the threshold of becoming the world’s most digitised economy”.

Inaugurating the eighth edition of the Vibrant Gujarat Global Summit, Modi said: “It is our vision and mission to bring a paradigm shift in the ways of our polity and economy. We have taken a series of decisions and steps in this direction. To give you some examples, we are bringing a shift: from relation-based governance to system-based governance; from discretionary administration to policy-based administration; from random interference to technological intervention; from favouritism to level playing field; from informal economy to formal economy. In doing this, digital technology has played a key role.”

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Emphasising that e-governance provides an easy and effective form of governance, he said: “Towards this end, we are working to adopt and absorb newer technologies, to bring about transparency and to end discretion. Believe me, we are on the threshold of becoming the world’s most digitised economy. Most of you wanted this change in India. I am proud to say it is happening before you.”

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Describing India as a “bright spot in the global economy”, he said “Make in India” has become the country’s biggest brand. “I am delighted to share that we have become the sixth largest manufacturing country in the world, up from ninth largest previously. Our gross value added manufacturing has recorded a growth of nine per cent in 2015-16. This is much higher than the five to six per cent growth in the previous three years. All this is helping us expand the job market and raise the purchasing power of our people,” he said.

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Stating that India has “improved its policies, practices and economic profile” in the last two years, Modi said the country has improved its ranking in the World Bank’s Doing Business Report, and has moved up 16 ranks in the Global Innovation Index 2016. “India has left every other country behind in terms of providing return on investment. In 2015, India has risen to the first position in the Baseline Profitability Index,” he said.

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“Most of you can work with us in a number of areas which include hardware to software, soft skills to scientific temper, defence systems to cyber security, medicine to tourism. I daresay that India alone offers the opportunities that could rival those of an entire continent,” he told the gathering of political leaders, captains of the industry and delegates from over 100 countries.

“It offers today the possibilities of a full century. And we want to do all this in a cleaner, greener and sustainable way,” he said.

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