Unprecedented certainty in India amid great global uncertainty: Modi

Prime Minister Narendra Modi, speaking at the Vibrant Gujarat Regional Conference (VGRC) on Sunday (January 11), appealed to investors to take advantage of various opportunities in the country, which is marching towards becoming the third-largest economy.

India is currently witnessing an era of unprecedented certainty and political stability, a time when the world is experiencing great uncertainty, he said."Amidst great global uncertainty, we are witnessing an era of unprecedented certainty in India. Today, India has political stability and continuity in policies," Modi said after inaugurating the Vibrant Gujarat Regional Conference (VGRC) for the Saurashtra and Kutch region in Rajkot city.

Growing economy

"In recent years, India has made very rapid progress, and Gujarat has played a very significant role in this. India is rapidly moving towards becoming the world's third-largest economy, and the figures that are emerging clearly show that the world's expectations from India are constantly increasing," said Modi.

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He said the expanding new middle class and their growing purchasing power are among the major factors that have made India a country of immense possibilities.

"Today, India is the world's fastest-growing large economy. The country that manufactures the most vaccines in the world is India. India's growth revolves around the mantra of 'Reform, Perform, and Transform," said added.

India, a global leader

Modi said every global expert and global institution is bullish on India today.

He stated that India has become the world's largest consumer of mobile data, and UPI has become the world's number one real-time digital transaction platform.

India is also among the top three countries in terms of solar power generation, while its metro networks are among the top three networks in the world, he said.

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"That is why I keep saying that this is the time, and it's also the right time for every investor in the country and the world to take advantage of these opportunities," said Modi.

Saurashtra and Kutch: Region of opportunities

He also urged the investors to consider investing in the Saurashtra and Kutch region, which is emerging as a major centre for accelerating the Aatmanirbhar Bharat (Self-Reliant India) campaign.

"Saurashtra and Kutch have a huge role to play in making India a global manufacturing hub, and this role is market-driven, which is what instills the greatest confidence in investors," said Modi.

He added that Saurashtra and Kutch are not just regions of opportunity, but have become an anchor region for India's growth.

Modi said Alang in Bhavnagar district is the world's largest ship-breaking yard where one-third of the world's ships are recycled.

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"India is one of the largest producers of tiles, and the Morbi district contributes significantly to this. Dholera Special Investment Region is becoming a major centre for modern manufacturing. India's first semiconductor fabrication facility is being set up in Dholera," he added.

Early-mover advantage

Modi further said this region is providing an early-mover advantage for future technologies, which means the ground is completely ready for your investment to grow in this region. "The infrastructure is ready, the policy is predictable, and the vision is long-term," he added.

Earlier in the day, Modi inaugurated a trade show at Marwadi University in Rajkot ahead of the VGRC.

More than 1,500 Memoranda of Understanding (MoUs) are expected to be signed with over 110 international buyers from 16 countries, including the USA and several from Europe, participating in the event, while over 1,800 business meetings have been scheduled during the Reverse Buyer Seller Meet (RBSM) at VGRC, officials said.

Leading corporations, such as Torrent Power Limited, KOSOL, Adani Green, Essar Group, Nayara Energy, Jyoti CNC, are participating in the exhibition spread across 26,000 square metres, they said.

More than 400 exhibitors representing a wide range of sectors, such as agro and food processing, fisheries, defence, energy, petrochemicals, engineering, and ports and logistics, have put up stalls at the trade show, officials informed.

(With agency inputs)