STATE TIMES NEWS
New Delhi: India is a global bright spot with a strong desire to grow even more, Prime Minister Narendra Modi said on Sunday as he shared on social media a recent Capital Group report which stated that the country is poised for a period of secular growth, fuelled by significant expansion in direct and fixed asset investment.
Sharing the report on Twitter, Modi said, “Youngsters and entrepreneurs will find these 9 points interesting.”
“And yes, India is a global bright spot with a strong desire to grow even more!” he said.
The Capital Group, in a recent report, said India is poised to rise among emerging markets in this decade.
The country has had political stability over the last 10 years allowing economic development to be a top priority.
“While political instability and market volatility may increase in advance of general elections next year, we believe that India is poised for a period of secular growth, fueled by significant expansion in direct and fixed asset investment,” the Capital Group said.
The report has listed several key aspects that make India appealing compared with other emerging markets.
Those aspects include reforms measures taken under Prime Minister Narendra Modi’s government such as Aadhaar, Goods and Services Tax (GST), Unified Payment Interface (UPI) and Production-linked incentive programmes, Capital Group, the biggest money managers in the world, said.
In another tweet, Modi said that over the last few days, foundation stones for two PM-MITRA mega textile parks have been laid. These parks will come up in Amravati in Maharashtra and Navsari in Gujarat, he said and added that they will bolster productivity, foster innovation and generate many employment opportunities.