SME Times News Bureau | 12 Jan, 2019
President M Venkaiah Naidu on Friday said that a steady growth rate of almost
7% coupled with a series of reforms made India, the most favourite destination
for investments in the world.
said that it was the right time for foreign investors to tap the huge potential
offered by India in various sectors from real estate to healthcare.
said that government’s initiatives and reforms helped India achieve 11th rank
in the Global FDI confidence index 2018. Referring to a report by UBS, he said
that the annual FDI inflows would rise to $ 75 billion over the next five year
and added India with its growth momentum would soon become $5 trillion economy.
India as a bright spot in the world economy, he said India would continue to be
the fastest growing major economy in the world, quoting the World Bank’s latest
said the GDP is expected to grow at 7.3 per cent this fiscal year and at 7.5
per cent in the following two years.
said that the robustness of India’s institutions, resilience of its policy
frameworks, the reforms initiated by the government and the responsiveness of
Industry bodies such as CII have insulated its economy from stagnation and
helped in achieving the dual distinction of being a stable democracy and one of
the fastest growing economies in the world.
the efforts of government and its agenda to reform processes for the betterment
of administration, Shri Naidu said that such reforms were the need of the hour
and would continue.
Vice President also appreciated the healthy competition among various states to
attract investors and promote industrialization. He urged the state governments
to promote similar competitiveness among districts to realize rural India’s