India seen as world's bright spot, says PM Modi

Despite the world going through a phase of 'Global crisis', the world considers India as a "bright spot" as we continue our initiatives to strengthen the fundamentals of our economy, Prime Minister Narendra Modi said during his virtual address in Karnataka.

"Although it is a time of global crisis, economists and experts across the world are describing India as a bright spot. We continue to work on our fundamentals to strengthen our economy. The free trade deals that have been signed give the world a glimpse of our preparedness," PM Narendra Modi said during his virtual inaugural address of Invest Karnataka 2022 Summit . 

He said that India has eased the investments by rationalising the laws instead of making them more stringent.

Talking further, the Prime Minister said that India has set up a benchmark for the world when it comes to renewable energy as "our potency for renewable energy increased three folds in the last eight years and that of Solar energy up to 20 times."

"The youth of India has made more than 100 unicorns here and in the last eight years, they have successfully launched more than 80 thousand new startups," he added mentioning the aim of the PM-GatiShakti National Master Plan.

In his address, PM Modi also praised Karantaka and the "double engine government" here for making it possible for setting up business startups.

The Invest Karnataka 2022, Global Investors Meet is a three-day programme and has more than 80 speaker sessions aiming at attracting prospective investors and setting up a development agenda for the next decade.

(ANI)