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India has exciting opportunities for investment in urbanization, PM tells investors

Published By : Admin | November 17, 2020 | 18:41 IST
Post Covid world will need a reset of mindset and practices
100 smart cities have prepared projects worth 30 billion dollars
Addresses 3rd Annual Bloomberg New Economy Forum

The Prime Minister Shri Narendra Modi invited the investors to invest in the Indian urbanization. Speaking at the 3rd Annual Bloomberg New Economy Forum today via video conferencing, the Prime Minister said “If you are looking to invest in urbanisation, India has exciting opportunities for you. If you are looking to invest in  mobility, India has exciting  opportunities for you. If you are looking to invest in  innovation, India has exciting opportunities for you. If you are looking to invest in  sustainable  solutions, India has exciting opportunities for you. These opportunities  come along-with A vibrant democracy. A business friendly climate.A huge market. And a government which shall leave no stone unturned to make India a preferred global investment destination.”

Shri Modi said that post COVID-19 world will need a  restart, however the restart will not be possible without a reset. A reset of mindset.  A reset of processes and a reset of practices. The pandemic has given us an opportunity to develop new protocols in every field. “This opportunity should be  grabbed by the world if we want to develop resilient  systems for the future. We should think about post COVID requirements of the world.  A good starting point would be the rejuvenation of our urban centers”, The Prime Minister added.

Dwelling on the theme of rejuvenation of the urban centres the Prime Minister emphasized the centrality of the people in the recovery process. Terming people as the biggest resources and the communities as the biggest building block, the Prime Minister said “the pandemic has re-emphasised that our biggest resource, as societies and  as businesses, is our people. The post-Covid world has to be built by nurturing this key and fundamental resource.”

The Prime Minister stressed the need to carry forward the learnings of the pandemic period. Talking about the cleaner environment during the lockdown period he wondered whether we can build   sustainable cities where a cleaner environment is the norm and not an exception?  “It has been   our endeavour   in India   to build   urban centres, which have the amenities of a city but the spirit of a village,” Shri Modi said.

He informed the forum about the recent initiatives for revitalizing the Indian urban landscape such as Digital India, Startup India, affordable housing, Real Estate (Regulation) Act and Metro Rail in  27 cities. “We are on track to deliver close to 1000 kms of Metro Rail system in the country by 2022,”  the Prime Minister informed the forum.

The Prime Minister said “we have selected 100 Smart Cities through a two-stage process.   It was a nationwide competition upholding  the philosophy of   cooperative    and   competitive federalism. These cities have prepared projects worth almost  two lakh crore rupees or 30 billion dollars. And projects worth almost one lakh forty thousand crore rupees or 20 billion dollars have been completed  or nearing completion.”

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The World This Week On India
December 31, 2024

India has been under the international spotlight this week, with significant developments in diplomacy, economic growth, technological advancement, and cultural recognition. From pivotal diplomatic visits to groundbreaking achievements in defense and technology, India’s story has been one of progress and influence on the world stage.

Diplomatic Triumphs

One of the focal points of this week was the achievements of PM Narendra Modi’s visit to Kuwait on Dec 21-22, the first bilateral prime ministerial visit to the Gulf nation in 43 years.
The world sees the visit PM Narendra Modi’s strategic move to strengthen ties in a region undergoing significant transitions. It not only closes a crucial gap in India’s diplomacy with the Gulf but also signals the nation’s proactive stance in navigating the complex geopolitics of West Asia.

Economic and Technological Advances

  • In the realm of finance and technology, India has made headlines by surpassing China to top the Asian IPO rankings. According to data from Dealogic for 2024, India is poised to become the world’s second-largest equity fundraising market, a testament to the robust investor confidence in the Indian market. This achievement reflects India’s economic resilience and growth potential.
  • India has also taken significant steps towards semiconductor self-reliance. The initiation of construction for semiconductor fabrication and packaging units marks a promising start in the nation’s quest to carve a niche in the global semiconductor industry. Read more about this here.
  • Additionally, India’s maritime sector is set for a transformation, with an investment of $10 billion over the next 25 years to make India one of the world’s top shipbuilding nations. This development not only aims at bolstering India’s maritime capabilities but also positions it as a key player in the global maritime industry.

Defense and Strategic Developments

  • India’s strides in defense technology have also been a topic of global conversation. The successful test of a hypersonic missile places India among an elite group of nations with such capabilities, enhancing its strategic posture in regional geopolitics. This advancement underlines India’s growing military prowess.
  • Adding to the narrative of self-reliance, Prime Minister Modi’s push for domestic production of defense equipment, including the K9 Vajra-T artillery platforms, has been highlighted. This initiative not only boosts the ‘Make in India’ campaign but also fortifies national security through indigenous innovation.

Cultural and Leadership Recognition

  • In the cultural sphere, the influence of Indian cinema was acknowledged with tributes to Shyam Benegal, an influential director known for his contributions to India’s ‘parallel cinema.’ Benegal’s work from the 1970s, which challenged mainstream Bollywood by focussing on social issues, has been celebrated, reflecting India’s rich cultural fabric on the international stage.

Religious Freedom and Vision for the Future

  • The discourse on India’s democratic ethos was enriched by statements from figures like Mary Millben, who praised India’s commitment to religious freedom as a hallmark of its democracy. Such endorsements bolster India’s image as a pluralistic society.
  • India’s goal of Viksit Bharat by 2047 as envisioned by PM Modi has received endorsement from Indermit Gill, chief economist at World Bank. Complementing PM Modi on his vision, Gill believes that India will see its prime potential over the next two decades. Read more about India’s future prospects here.

The week has painted a picture of India as a nation on the move, not just in terms of economic metrics but also in cultural, technological, and diplomatic arenas. The global coverage reflects a growing recognition of India’s multifaceted development and its increasing influence on the world stage.

From the Gulf’s diplomatic corridors to the cutting-edge labs of defense technology, from the boardrooms of American companies to the cultural dialogues of cinema, India’s story this week has been one of global engagement, innovation, and leadership.