Asserting that the spirit of adventure, enterprise and innovation in India is thriving, Prime Minister Manmohan Singh has said that his government's resolve to spur investments, attract foreign investors and boost economic growth remains unwavering, and added that intense debates back home on the
policy issues have not stopped it from taking hard decisions.
"In a country of India's size, diversity and complexity, intense debates on the policy choices we make are inevitable. But these debates have not stopped us from taking some hard decisions in the long term interest of our country and our people," Singh said in his address at the closing ceremony of the Days of India in Germany.
"Looking to the future, we have set ourselves a target of over eight percent annual growth for the 12th Five Year Plan. This is the rate of growth India recorded over the past decade and is, I believe, our potential rate of growth in the near future. We are confident that we can return to that growth path. Our economic fundamentals are strong. The spirit of adventure, enterprise and innovation in India is thriving," he said.
"The opportunities for investment abound. Our government's resolve to spur investments, attract foreign investors and boost economic growth remains unwavering. Towards this end, we have sought to make India more attractive to investors both at home and abroad and German investors have a special place in our hearts," he added.
The Prime Minister further pointed out that trials of the global economy have led to repercussions in India as well and India's economic growth has slowed down.
"The trials of the global economy have led to repercussions in India as well and our economic growth has slowed down in the past two years. In response, our government has considered several measures to revive the engines of growth," he added.
Emphasising that India's concern is not merely its rate of growth, but also the quality of that growth and living conditions of the people both in health and education, Singh said: "We want our growth to be inclusive and sustainable. This is not just a social and political imperative, but also a sound economic underpinning for sustained long term growth. Therefore, we have placed a special emphasis on livelihoods, food security, healthcare, education, skill development and on clean and renewable energy."
"Our message to the world is clear: India remains open and welcoming to foreign investment. We are aiming to attract an investment of nearly one trillion dollars in infrastructure over the next five years," he said.
"I hope German companies and companies from across Europe will make good use of these opportunities and help accelerate our growth process to our mutual advantage," he added.