India attracting record investment despite war, Covid: PM Modi

“This is an era of economic uncertainty. But, our economic fundamentals are strong. Even though supply chains were interrupted globally, India ensured adequate supply of medicines and vaccines,” PM Modi said.

Investing in India, he said, was an investment in inclusiveness. “Investing in India meant investment in democracy. Investing in India means investment for the world. It means investment for a better planet. Investment in India meant investment for a clean and safer planet,” he told investors.

The progress witnessed by Karnataka, Modi said, was since the time of BJP governments in both the Centre and the state. “This is the reason for innovation, increased inflow in Foreign Direct Investment (FDI), (and) the presence of 400 of the Fortune-500 companies in the state,” he said.

Hailing Karnataka for scripting “a new chapter of progress in every sector”, he said that Karnataka is not only challenging some states of India (in terms of growth) but some countries as well.

Modi noted that India was pursuing development and ‘welfarism’ side by side. On one hand, India is offering the world’s largest incentive for manufacturing while providing the world’s largest medical insurance scheme on the other. “On one hand, the FDI is growing and on the other, the number of medical colleges is increasing. On one hand, we are removing hurdles for business, while setting up 1.5 lakh healthcare centres. India is pursuing a policy of bold reform, bold infrastructure, and best talent,” he said.

Referring to PM Gati Shakti national master plan that had changed investment patterns in the country, PM Modi said that the scheme worked in three dimensions – by mapping, developing, and adjusting infrastructure, ensuring the shortest route for the implementation of a scheme, and by ensuring that world-class product is manufactured.

The investors’ meet being held till Friday would witness more than 80 speaker sessions. The speakers include some of the top industry leaders, including Kumar Mangalam Birla, Sajjan Jindal, and Vikram Kirloskar among others.

Karnataka Governor Thawarchand Gehlot, Chief Minister Basavaraj Bommai, Union ministers Nirmala Sitharaman, Prahlad Joshi, Piyush Goyal and Rajeev Chandrashekar, state Industries Minister Murugesh Nirani, and others were present during the inaugural event.