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Indian economy to be among the fastest growing in the elite G-20 grouping: PM Modi

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Prime Minister Narendra Modi, on Wednesday, while virtually inaugurating the 7th edition of ‘Invest Madhya Pradesh-Global Investors Summit’, in Indore said that the Indian economy has ‘strong macroeconomic fundamentals and is expected to be among the fastest growing in the elite G-20 grouping. 

Addressing the two-day summit themed ‘Madhya Pradesh – The Future Ready State’, the PM hailed India as an ‘attractive destination for investment’. 

Highlighting that his government’s work on key economic reforms despite global challenges had led to India being seen ‘as a bright spot’ in the world.

Every institution and expert in the world is expressing their confidence in India, the PM said while citing the example of the International Monetary Fund(IMF), which sees India as a bright spot in the global economy.

“World Bank said India is in a better position to deal with global headwinds than many other countries… Organisation for Economic Co-operation and Development said India will be among fastest-growing G-20 economies this year… Morgan Stanley said India (will be) the world’s third-largest economy.”

“CEO of McKinsey’s has said this is not only India’s decade but India’s century. Institutions and credible voices that track the global economy have unprecedented confidence in India. This is because of India’s strong macroeconomic fundamentals,” the prime minister said.

At the summit, PM Modi also called on all Indians to work together, saying, “When we talk of a developed India, it is not just our aspiration but the resolution of every Indian.”

Earlier, chief minister Shivraj Singh Chouhan pointing the summit to be a key for the state’s economy said, “There are buyers… sellers… over 5,000 industrialists and 70 big industrial houses participating. There is immense enthusiasm… I have to make the state a $ 550 billion economy by 2026 and this summit will be a milestone.” 

A total of 447 international delegates from 84 countries, 401 international buyers, more than 5,000 industrialists and representatives of various international industry associations, and representatives of all G20 countries are taking part in the event. 

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