India will be 3rd largest economy: PM Modi at Uttarakhand investors’ summit - Hindustan Times
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India will be 3rd largest economy, says PM Modi at Uttarakhand investors’ summit

Dec 08, 2023 05:37 PM IST

Modi, while appealing the investors to invest in Uttarakhand, said that in the Himalayan state, they will experience both “divinity and development” and get an opportunity to be part of the state’s journey on the path of progress and tap its untapped potential in various sectors

Prime Minister Narendra Modi on Friday said that in his third term, India will surely emerge as the third-largest economy in the world.

Prime Minister Narendra Modi on Friday inaugurated two day Uttarakhand Global Investors Summit (HT Photo)
Prime Minister Narendra Modi on Friday inaugurated two day Uttarakhand Global Investors Summit (HT Photo)

PM Modi was speaking at the ‘Uttarakhand Global Investors Summit 2023’ being held at Forest Research Institute, Dehradun. Earlier today, Modi inaugurated the two-day summit and also took a walkthrough of the exhibition and unveiled the Ground Breaking Wall.

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Modi said that this precious time for investors as in the coming few years, India will be become the third largest economy in the world.

“I want to assure the people of this country that in my third term, our country will surely be among the three largest economies in the world,” Modi said.

“Stable government, supportive policy system, mindset of ‘reform to transform’, and self-confidence to become developed…all this has happened for the first time. This is the time of Bharat…I appeal to you to walk with Uttarakhand, develop yourself and help in developing Uttarakhand,” Modi said to the business leaders present at the summit.

“Whatever we do should be best in the world. Our standards should be followed by the world”, he said intending to achieve a developed Bharat.

Modi said that India should focus on strengthening export-oriented manufacturing and stop depending on other countries, to lessen imports from other countries.

“We have to come out of this mindset that somewhere else a product is available at cheaper rates, so let us import from there. Due to this, we have incurred huge losses. All you businessmen should also focus on capacity building here.”

Pushing further for self-reliance, Modi said, “We are importing 15 lakh crore worth of petro-products, 4 lakh crore worth coal, and 15 lakh worth crore pulses. If we become self-reliant in pulses, the money will go to the farmers of this country.”

Modi, while appealing the investors to invest in Uttarakhand, said that in the Himalayan state, they will experience both “divinity and development” and get an opportunity to be part of the state’s journey on the path of progress and tap its untapped potential in various sectors.

“Uttarakhand is a state where will get to experience both divinity and development at the same time, I have known, experienced and lived very near the aspirations and possibilities of this Devbhoomi, the land of gods. And this land will surely open new doors of investment for you. Today Bharat is focussing on the mantra of ‘Vikas’ (development) and ‘Virasat’ (Heritage). And Uttarakhand is one of the best examples of this”, he said.

Modi said businessmen are used to conducting SWOT Analysis (SWOT analysis is a technique for assessing four aspects of business- Strengths, Weaknesses, Opportunities, and Threats) and and emphasised performing this exercise in India.

“As a nation, if we conduct the SWOT analysis, we will find aspirations, hope, self-confidence, innovations and opportunities, policy-driven governance and political stability. Aspirational India desires a stable government rather than instability. And in Uttarakhand, people have earlier voted for good governance and a stable government,” the Prime Minister said.

Modi said whenever he comes to Uttarakhand, he feels overwhelmed. “A few years ago, when I had gone for darshan of Baba Kedar, I had said that the third decade of the 21st century belongs to Uttarakhand. And today I am happy that my statement is getting realised. And you are getting the opportunity to be part of this journey”

Modi highlighted the country’s capability to move forward at a record pace irrespective of the COVID pandemic and the unstable geo-political scenario.

“Despite the COVID epidemic and other odds, Bharat is developing so fast. Bharat is now in a separate league of its own when it comes to major world economies. Every, state including Uttarakhand, benefitted from this,” said Modi.

Modi said that the government at the state level and the national level is working very hard on various fronts, be it ease of business, improving the connectivity, infrastructure.

Speaking about how connectivity was being improved in Uttarakhand, with the Char Dham road project, village roads, Delhi-Dehradun Elevated Express road project, Karanprayag railway line, and heli taxi service, Modi said all this will also make business easy and create more opportunities for investors in sectors like tour and travel, agriculture, logistics, storage, hospitality.

Modi said Uttarakhand has vast untapped potential which can be tapped by investors. “In the tourism sector, we are developing theme-based tourism circuits with a focus on nature and heritage. In this campaign, Uttarakhand will emerge as a strong brand. We have all here, nature, culture, heritage, yoga ayurveda, adventure tourism…And investors should prioritise to explore these and convert them into opportunities”, he said

Modi said that in the last ten years, aspirational India has come to the fore. “In five years, over 130.5 million people have come out of poverty, and they have given new impetus to the economy. The consumption-based economy is getting stronger, the neo-middle class is spending more on their needs and the middle class is spending more on their aspirations. We have to understand this potential,” he said.

Modi, who launched the state government’s House of Himalayas brand, said it will help in strengthening ‘vocal for local’ and ‘local for global’ initiatives of self-help groups, especially run by women.

Modi urged investors to explore local products in the state by partnering with women’s self-help groups to market such products at the global level.

The two-day investors’ summit is being held with the theme — “Peace to Prosperity”.Thousands of investors and delegates will attend the summit from across the world. It will witness the participation of Union Ministers, Ambassadors of various countries along with leading industrialists, among others.

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