Mera Saansad
Search Search
English language

PM chairs Virtual Global Investor Roundtable

Published By : Admin | November 5, 2020 | 19:01 IST
India has shown remarkable resilience in this pandemic, be it fighting the virus or ensuring economic stability: PM
India offers Democracy, Demography, Demand as well as Diversity: PM Modi
If you want returns with reliability, India is the place to be: PM Modi

Prime Minister Shri Narendra Modi chaired Virtual Global Investor Roundtable today.

Addressing the roundtable, the Prime Minister said through this year, as India bravely fought the global pandemic, the world saw India’s national character and India’s true strengths. He said the pandemic has successfully brought out traits like a sense of responsibility, a spirit of compassion, national unity and the spark of innovation, for which Indians are known for.

The Prime Minister remarked that India has shown remarkable resilience in this pandemic, by fighting the virus as well as ensuring economic stability. He attributed this resilience to the strength of the systems in India, support of the people and stability of the Government's policies.

The Prime Minister said New India is being built which is free of old practices and today,  India is changing for the better. He added India’s quest to become AatmaNirbhar is not just a vision but a well-planned economic strategy. He stressed it is a strategy that aims to use the capabilities of India’s businesses and skills of its workers to make India into a global manufacturing powerhouse. Shri Modi said it aims to use the country’s strength in technology to become a global centre for innovations and aims to contribute to global development using its immense human resources & their talents.

The Prime Minister said today, investors are moving towards companies which have a high Environmental, Social & Governance (ESG) score. He showcased India as a nation with such systems in place and with companies ranking high on ESG score. He said India believes in following the path of growth with equal focus on ESG.

The Prime Minister said India offers the investors Democracy, Demography, Demand as well as Diversity. He said “Such is our diversity that you get multiple markets within one market. These come with multiple pocket sizes & multiple preferences. These come with multiple weathers and multiple levels of development.”

The Prime Minister explained how the Government’s approach of finding long-term and sustainable solutions for issues, gels well with the investor’s requirement to provide the funds in  your trust, the best and safest long-term returns. He listed various initiatives of the Government aimed at improving the manufacturing potential and improving ease of doing business.

He said, “We have taken multiple initiatives to improve our manufacturing potential, we ushered in One Nation One Tax system in the form GST, one of the Lowest Corporate Tax rates and added incentive for new manufacturing, Faceless regime for IT assessment and appeal, a new labour laws regime balancing the welfare of workers and ease of doing business for the employers. Production Linked Incentive schemes in specific sectors and empowered institutional arrangement to handhold investors.”

The Prime Minister expressed that India has an ambitious plan to invest $ 1.5 trillion under the  National Infrastructure Pipeline. He listed various social and economic infrastructure projects planned in India under the pipeline, aimed for faster economic growth and alleviation of poverty in the country. He said India has embarked on a massive infrastructure building spree of highways, railways, metros, water-ways, airports across the country. He added millions of affordable houses for the Neo-middle class are also planned. He called for investments not just in big cities but in smaller cities and towns too and said mission-mode schemes are being implemented for development of such cities.

The Prime Minister elaborated the holistic strategy for the development of the financial sector. He listed some of the major initiatives for the development of the financial sector like comprehensive banking sector reforms, strengthening of financial markets, unified  authority for the International Financial Services Centre, one of the most liberal FDI regimes, a benign tax regime for foreign capital, suitable policy regimes for investment vehicles like Infrastructure Investment Trust and Real Estate Investment Trust, Implementation of  Insolvency and Bankruptcy Code, Financial empowerment through Direct Benefit Transfer  and fin-tech based payment systems like Ru-Pay cards and BHIM-UPI.

The Prime Minister remarked that initiatives around innovation and digital  have always been at the centre of government policies and reform. He pointed out that India has one of the largest number of start-ups and unicorns in the world and is still growing very fast. He listed the initiatives of the government to enable the private enterprise to flourish. He said today each sector in India like manufacturing, infrastructure, technology, agriculture, finance and  even social sectors like health and education are looking up.

The Prime Minister highlighted that the recent reforms in agriculture has opened up new exciting possibilities to partner with the farmers of India. He envisioned India to soon emerge as an agriculture export hub, with the help of technology and modern processing solutions. He pointed out the opportunity created by National Education Policy in setting up campuses of foreign universities here. He expressed happiness that the global investor community has shown confidence in India’s future. He added the last 5 months have seen a 13 % rise in  FDI inflows compared to last year.

The Prime Minister pitched India is the place to be, if one wants returns with reliability, demand with democracy, stability with sustainability and growth with a green approach. He said India's growth has the potential to catalyse global economic resurgence. He added any achievement by India  will have a multiplier impact on World's development and Welfare. He said a strong and vibrant India can contribute to stabilization of the world economic order. He assured the investors that the Government will do whatever it takes to make India the engine of global growth resurgence.

After the event Mr. Mark Machin, President & CEO of CPP Investments remarked that the VGIR 2020 roundtable was a very productive and helpful forum which provided us insight into the government’s vision to build out the India economy and accelerate the growth of international institutional investment in India. India is key to our long-horizon investment strategy, focused on growth markets, and we have a strong appetite to build on our existing investments across infrastructure, industrial and consumer sectors”.

Mr. Charles Emond, President & CEO of Caisse de dépôt et placement du Québec (CDPQ) while talking about India said, “India is an important market for CDPQ—we have invested several billions in sectors such as renewables, logistics, financial services and technology-enabled services—and  we aim to strengthen our presence over the coming years. I’d like to sincerely thank Prime Minister Modi and his government for taking the lead on organizing this roundtable where global investors and business leaders could discuss opportunities to support a stronger economy for India.”

Mr. Jase Auby, Chief Investment Officer, Teacher Retirement System of Texas, USA shared his view on India and his participation at the Roundtable, “I am pleased to participate in the 2020 Virtual Global Investor Roundtable. Pension fund investors dedicate large portions of their portfolios to assets expected to benefit from growing economies and markets. The structural reforms undertaken by India are likely to provide a strong foundation for such high growth well into the future.”

 

Click here to read PM's speech

Login or Register to add your comment
Explore More
140 crore Indians have taken a collective resolve to build a Viksit Bharat: PM Modi on Independence Day

Popular Speeches

140 crore Indians have taken a collective resolve to build a Viksit Bharat: PM Modi on Independence Day
View All
India's Economic Growth Activity at 8-Month High in October, Festive Season Key Indicator

Media Coverage

India's Economic Growth Activity at 8-Month High in October, Festive Season Key Indicator
View All
NM on the go

Nm on the go

Always be the first to hear from the PM. Get the App Now!
Download App
...
Text of PM Modi's address to the Indian Community in Guyana
November 22, 2024
The Indian diaspora in Guyana has made an impact across many sectors and contributed to Guyana’s development: PM
You can take an Indian out of India, but you cannot take India out of an Indian: PM
Three things, in particular, connect India and Guyana deeply,Culture, cuisine and cricket: PM
India's journey over the past decade has been one of scale, speed and sustainability: PM
India’s growth has not only been inspirational but also inclusive: PM
I always call our diaspora the Rashtradoots,They are Ambassadors of Indian culture and values: PM

Your Excellency President Irfan Ali,
Prime Minister Mark Philips,
Vice President Bharrat Jagdeo,
Former President Donald Ramotar,
Members of the Guyanese Cabinet,
Members of the Indo-Guyanese Community,

Ladies and Gentlemen,

Namaskar!

Seetaram !

I am delighted to be with all of you today.First of all, I want to thank President Irfan Ali for joining us.I am deeply touched by the love and affection given to me since my arrival.I thank President Ali for opening the doors of his home to me.

I thank his family for their warmth and kindness. The spirit of hospitality is at the heart of our culture. I could feel that, over the last two days. With President Ali and his grandmother, we also planted a tree. It is part of our initiative, "Ek Ped Maa Ke Naam", that is, "a tree for mother”. It was an emotional moment that I will always remember.

Friends,

I was deeply honoured to receive the ‘Order of Excellence’, the highest national award of Guyana. I thank the people of Guyana for this gesture. This is an honour of 1.4 billion Indians. It is the recognition of the 3 lakh strong Indo-Guyanese community and their contributions to the development of Guyana.

Friends,

I have great memories of visiting your wonderful country over two decades ago. At that time, I held no official position. I came to Guyana as a traveller, full of curiosity. Now, I have returned to this land of many rivers as the Prime Minister of India. A lot of things have changed between then and now. But the love and affection of my Guyanese brothers and sisters remains the same! My experience has reaffirmed - you can take an Indian out of India, but you cannot take India out of an Indian.

Friends,

Today, I visited the India Arrival Monument. It brings to life, the long and difficult journey of your ancestors nearly two centuries ago. They came from different parts of India. They brought with them different cultures, languages and traditions. Over time, they made this new land their home. Today, these languages, stories and traditions are part of the rich culture of Guyana.

I salute the spirit of the Indo-Guyanese community. You fought for freedom and democracy. You have worked to make Guyana one of the fastest growing economies. From humble beginnings you have risen to the top. Shri Cheddi Jagan used to say: "It matters not what a person is born, but who they choose to be.”He also lived these words. The son of a family of labourers, he went on to become a leader of global stature.

President Irfan Ali, Vice President Bharrat Jagdeo, former President Donald Ramotar, they are all Ambassadors of the Indo Guyanese community. Joseph Ruhomon, one of the earliest Indo-Guyanese intellectuals, Ramcharitar Lalla, one of the first Indo-Guyanese poets, Shana Yardan, the renowned woman poet, Many such Indo-Guyanese made an impact on academics and arts, music and medicine.

Friends,

Our commonalities provide a strong foundation to our friendship. Three things, in particular, connect India and Guyana deeply. Culture, cuisine and cricket! Just a couple of weeks ago, I am sure you all celebrated Diwali. And in a few months, when India celebrates Holi, Guyana will celebrate Phagwa.

This year, the Diwali was special as Ram Lalla returned to Ayodhya after 500 years. People in India remember that the holy water and shilas from Guyana were also sent to build the Ram Mandir in Ayodhya. Despite being oceans apart, your cultural connection with Mother India is strong.

I could feel this when I visited the Arya Samaj Monument and Saraswati Vidya Niketan School earlier today. Both India and Guyana are proud of our rich and diverse culture. We see diversity as something to be celebrated, not just accommodated. Our countries are showing how cultural diversity is our strength.

Friends,

Wherever people of India go, they take one important thing along with them. The food! The Indo-Guyanese community also has a unique food tradition which has both Indian and Guyanese elements. I am aware that Dhal Puri is popular here! The seven-curry meal that I had at President Ali’s home was delicious. It will remain a fond memory for me.

Friends,

The love for cricket also binds our nations strongly. It is not just a sport. It is a way of life, deeply embedded in our national identity. The Providence National Cricket Stadium in Guyana stands as a symbol of our friendship.

Kanhai, Kalicharan, Chanderpaul are all well-known names in India. Clive Lloyd and his team have been a favourite of many generations. Young players from this region also have a huge fan base in India. Some of these great cricketers are here with us today. Many of our cricket fans enjoyed the T-20 World Cup that you hosted this year.

Your cheers for the ‘Team in Blue’ at their match in Guyana could be heard even back home in India!

Friends,

This morning, I had the honour of addressing the Guyanese Parliament. Coming from the Mother of Democracy, I felt the spiritual connect with one of the most vibrant democracies in the Caribbean region. We have a shared history that binds us together. Common struggle against colonial rule, love for democratic values, And, respect for diversity.

We have a shared future that we want to create. Aspirations for growth and development, Commitment towards economy and ecology, And, belief in a just and inclusive world order.

Friends,

I know the people of Guyana are well-wishers of India. You would be closely watching the progress being made in India. India’s journey over the past decade has been one of scale, speed and sustainability.

In just 10 years, India has grown from the tenth largest economy to the fifth largest. And, soon, we will become the third-largest. Our youth have made us the third largest start-up ecosystem in the world. India is a global hub for e-commerce, AI, fintech, agriculture, technology and more.

We have reached Mars and the Moon. From highways to i-ways, airways to railways, we are building state of art infrastructure. We have a strong service sector. Now, we are also becoming stronger in manufacturing. India has become the second largest mobile manufacturer in the world.

Friends,

India’s growth has not only been inspirational but also inclusive. Our digital public infrastructure is empowering the poor. We opened over 500 million bank accounts for the people. We connected these bank accounts with digital identity and mobiles. Due to this, people receive assistance directly in their bank accounts. Ayushman Bharat is the world’s largest free health insurance scheme. It is benefiting over 500 million people.

We have built over 30 million homes for those in need. In just one decade, we have lifted 250 million people out of poverty. Even among the poor, our initiatives have benefited women the most. Millions of women are becoming grassroots entrepreneurs, generating jobs and opportunities.

Friends,

While all this massive growth was happening, we also focused on sustainability. In just a decade, our solar energy capacity grew 30-fold ! Can you imagine ?We have moved towards green mobility, with 20 percent ethanol blending in petrol.

At the international level too, we have played a central role in many initiatives to combat climate change. The International Solar Alliance, The Global Biofuels Alliance, The Coalition for Disaster Resilient Infrastructure, Many of these initiatives have a special focus on empowering the Global South.

We have also championed the International Big Cat Alliance. Guyana, with its majestic Jaguars, also stands to benefit from this.

Friends,

Last year, we had hosted President Irfaan Ali as the Chief Guest of the Pravasi Bhartiya Divas. We also received Prime Minister Mark Phillips and Vice President Bharrat Jagdeo in India. Together, we have worked to strengthen bilateral cooperation in many areas.

Today, we have agreed to widen the scope of our collaboration -from energy to enterprise,Ayurveda to agriculture, infrastructure to innovation, healthcare to human resources, anddata to development. Our partnership also holds significant value for the wider region. The second India-CARICOM summit held yesterday is testament to the same.

As members of the United Nations, we both believe in reformed multilateralism. As developing countries, we understand the power of the Global South. We seek strategic autonomy and support inclusive development. We prioritize sustainable development and climate justice. And, we continue to call for dialogue and diplomacy to address global crises.

Friends,

I always call our diaspora the Rashtradoots. An Ambassador is a Rajdoot, but for me you are all Rashtradoots. They are Ambassadors of Indian culture and values. It is said that no worldly pleasure can compare to the comfort of a mother’s lap.

You, the Indo-Guyanese community, are doubly blessed. You have Guyana as your motherland and Bharat Mata as your ancestral land. Today, when India is a land of opportunities, each one of you can play a bigger role in connecting our two countries.

Friends,

Bharat Ko Janiye Quiz has been launched. I call upon you to participate. Also encourage your friends from Guyana. It will be a good opportunity to understand India, its values, culture and diversity.

Friends,

Next year, from 13 January to 26 February, Maha Kumbh will be held at Prayagraj. I invite you to attend this gathering with families and friends. You can travel to Basti or Gonda, from where many of you came. You can also visit the Ram Temple at Ayodhya. There is another invite.

It is for the Pravasi Bharatiya Divas that will be held in Bhubaneshwar in January. If you come, you can also take the blessings of Mahaprabhu Jagannath in Puri. Now with so many events and invitations, I hope to see many of you in India soon. Once again, thank you all for the love and affection you have shown me.

Thank you.
Thank you very much.

And special thanks to my friend Ali. Thanks a lot.