PLI scheme is making Madhya Pradesh a big pharma and textile hub
Institutions and credible voices that track the global economy have expressed unprecedented confidence in India while global investors share the same optimism, Prime Minister Narendra Modi said in a message to an international investors summit in Madhya Pradesh on 11 Jan 2023.
He addressed the Madhya Pradesh Global Investors’ Summit held in Indore via video message, highlighting examples of trust shown by global organisations.
The International Monetary Fund sees India as a bright spot in the global economy, and the World Bank has already expressed its views, saying India is in a better position to deal with global headwinds than many other countries.
The Prime Minister credited India’s strong macroeconomic fundamentals and cited OECD’s acknowledgement that India will be among the fastest-growing economies in the G-20 group this year.
Quoting Morgan Stanley, the Prime Minister said that India is moving towards becoming the world’s third-largest economy in the next 4-5 years, and pointed out that the CEO of McKinsey has declared that not just the present decade but the century itself belongs to India.
The Prime Minister further informed about a survey conducted by a prestigious international bank which found that a majority of the investors preferred India as their investment destination.
The latest among massive infrastructure development across the country includes the roll out of 5G network, the Internet of things and AI that it will only accelerate the pace of development in India, he said.
He credited the Production linked Incentive schemes where incentives worth more than Rs.2.5 lakh crore have been announced. Noting its popularity among manufacturers around the world, the Prime Minister informed that production worth Rs.4 lakh crore has taken place in different sectors so far, whereas hundreds of crores of rupees have been invested in Madhya Pradesh.
He noted the importance of the PLI scheme in making Madhya Pradesh a big pharma and textile hub. “I urge the investors coming to MP to take maximum advantage of the PLI scheme”, the Prime Minister appealed.
Laying emphasis on India’s aspirations regarding green energy, the Prime Minister pointed out that the Government has approved Green Hydrogen Mission a few days ago which will usher investment possibilities of about Rs.8 lakh crore. He observed that this is not just an opportunity for India to attract investments but also to meet global demands for green energy.
Modi urged investors to explore their role in this ambitious mission as incentives worth thousands of crores have been arranged under this campaign.
He also highlighted the new possibilities in the field of health, agriculture, nutrition, skill and innovation, and underlined the need to build a new global supply chain along with India. fiinews.com
