PM to global investors: Bet on India, its prosperity is key to that of world

Prime Minister Modi, UP CM Adityanath at the Global Investors Summit in Lucknow, Friday. (Express Photo by Vishal Srivastav)

Personally welcoming investors not just as Prime Minister but also as a Member of Parliament from the state, he said every “credible voice” in the world is optimistic about the ascending course of the Indian economy because it has not only shown resilience in the face of the pandemic and the (Ukraine) war but also made rapid recovery.

Highlighting the “big change” in the aspirations of the people in India, Modi said, “There is a paradigm shift in the aspirations of India’s society. Today, every citizen of India wants to see more and more development. They want to see Bharat as a developed nation as early as possible.”

“Don’t forget that the state where you are today has a population of nearly 25 crore… More than any country in the world, there is more power in Uttar Pradesh alone. Just like India, a very important, aspirational society is waiting for you in Uttar Pradesh.”

Due to the digital revolution, the state, he said, has grown as an inclusive society and is also connected.

Stating that India as a market has become “seamless” and there is ease of doing business, he said reforms in the country have taken place out of “conviction” and not “compulsion”. “Because of this, India has done away with more than 40,000 compliances and about a dozen old laws.”

Modi said that with basic needs of a very large segment being fulfilled, the country is now moving to the next level. “This is the biggest reason for the trust in India.”

Referring to the BJP-led governments in UP and the Centre, he urged people and investors not to lose the moment because they will not get a “better partnership” given the “resolve of the double engine government” and a “state like Uttar Pradesh full of opportunities”.

“The prosperity of the world lies in the prosperity of India and your participation is very important in this journey of prosperity,” he said.

Stating that Uttar Pradesh is the land of cultural splendour, glorious history and rich heritage, the Prime Minister recalled how it once had the unwanted tags of underdevelopment, a BIMARU state with poor law and order and scams worth thousands of crores.

Within 5-6 years, he said, UP has established a new identity and is now known for good governance, strong law and order, peace and stability.

“New opportunities for wealth creators are being made here,” he said. Very soon, UP will be known as the only state with 5 international airports and a freight corridor will connect it directly to the Maharashtra coast, he said.

Speaking about the latest Union Budget, Modi told investors about the new opportunities in the “green growth path” being taken by the country. He said Rs 35,000 crore has been allocated for energy transition. He said UP has emerged as a champion in developing new value and supply chains with a large network of traditional and modern MSMEs. Citing the example of the carpets of Bhadohi and the silk of Varanasi, he said UP has become the textile hub of India.

Earlier, Chief Minister Yogi Adityanath said “new India’s new Uttar Pradesh is ready to play the role of the country’s growth engine” and has been working on the mantra given by the Prime Minister about “Reform, Perform and Transform”.

Calling the summit the “Mahakumbh” of investment, he announced that the state got Rs 32.92 lakh crore investment intents through 18,645 MOUs, bringing employment opportunities for over 92 lakh people.