Global investors looking at India, don't miss this 'golden chance': PM Modi to India Inc

Prime Minister Narendra Modi. Pic/PTI

Prime Minister Narendra Modi on Tuesday said investors from across the world are keenly looking at India and the domestic industry must rise and seize this 'golden chance' to play its role in achieving the goal of Viksit Bharat by 2047, reported news agency PTI.

Addressing a CII post-Budget conference on 'Journey Towards Viksit Bharat', he said, the Modi government does not lack political will and will take all decisions keeping in mind 'nation first approach'.

India is growing at 8 per cent and the day is not far when the country will become the third largest economy globally from the current fifth position, he told India Inc, reported PTI.

The prime minister exuded confidence that this feat of becoming the third largest economy will be achieved in his ongoing third term.

He also recalled various measures announced in the Budget, especially for promoting the MSME sector which creates crores of jobs.

"Today, the whole world is looking at India and you. The policies of the government and commitment and investment are becoming foundation of global development. Investors across the world are keen to come to India. World leaders are filled with positivity for India. This is the golden chance for the Indian industry and we should not lose this opportunity," PM Modi told India Inc, reported PTI.

The domestic industry, he said, should compete with the government to make India a developed nation by 2047 and also make it a global player in sunrise sectors.

"The intent and commitment of the government is clear. Whether it is nation first, or USD 5 trillion economy, Aatmanirbhar Bharat, Viksit Bharat--we are working with full focus," he said, reported PTI.

Addressing the leaders of Indian Industry PM Narendra Modi highlighted the achievements of his government over the last ten years. PM Modi said India is currently the world's fastest-growing major economy and in the last ten years the country's budget has increased three times to Rs 48 lakh crore from Rs 16 lakh crore, reported ANI.

PM Modi said, "When in 2013-14 the last budget of Dr Manmohan Singh's government was presented, it was Rs 16 lakh crore. Today, in our government, it has increased by three times and reached Rs 48 lakh crore," reported ANI.

PM Modi said that in 2004 when the UPA government assumed power, their first budget's capital expenditure was Rs 90,000 crore. In their 10-year rule, the UPA government was able to increase capital expenditure to Rs 2 lakh crore. Now, in 2024, it is more than Rs 11 lakh crore.

"In ten years, from 2004 to 2014, the capex somehow doubled, but in our tenure, the capex has increased by more than five times." PM Modi said, reported ANI.

PM Modi also highlighted that, India's focus on key sectors of the economy. He shared that, compared to the previous government, the current government has increased the railway budget by 8 times, the budget for highways has also increased by 8 times, the agriculture budget has increased by more than 4 times, and the defence budget too is increased by more than 2 times.

(With inputs from PTI and ANI)