India’s GDP growth reflects a strong economy and reforms, says Prime Minister Narendra Modi. Top 10 things to know | Mint
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Business News/ Economy / India’s GDP growth reflects a strong economy and reforms, says Prime Minister Narendra Modi. Top 10 things to know
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India’s GDP growth reflects a strong economy and reforms, says Prime Minister Narendra Modi. Top 10 things to know

Prime Minister Narendra Modi emphasised the pivotal role of transformative reforms conducted over the past decade in fostering India's economic progress.

File image of Prime Minister Narendra Modi (PTI)Premium
File image of Prime Minister Narendra Modi (PTI)

Prime Minister Narendra Modi hailed India's robust economic growth, speaking at the 'Infinity Forum 2.0' conference at GIFT City via video link, he emphasised the pivotal role of transformative reforms conducted over the past decade in fostering this progress.

Here's a look at the top 10 things to know:

1. Modi hailed India's growth, citing a GDP surge of 7.7 percent in the initial half of the fiscal year as evidence of the nation's burgeoning economy.

2. "In the first six months of this financial year, India has achieved a GDP growth of 7.7 percent...Today, the entire world has pinned its hopes on India, and this did not happen just on its own. This is a reflection of India's strengthening economy and also the transformative reforms carried out in the last 10 years," Modi said in his inaugural address.

3. Expressing aspirations for the Gujarat International Finance Tec (GIFT) City, Modi outlined plans to position it as a worldwide focal point for cutting-edge global financial and technological services.

4. He underscored India's achievements in the global fintech sphere, underscoring the emergence of GIFT International Financial Services Centre (IFSC) as a pivotal hub.

5. Modi urged experts to contribute ideas towards establishing a market mechanism for green credits, highlighting India's ambition to play a leading role in sustainable finance.

6. Modi highlighted the GIFT IFSC's potential to contribute significantly to India's sustainable finance goals, aiming to position it as a key player in global finance while advocating for green capital flow.

7. He lauded GIFT IFSC's potential in fostering a low-carbon economy and channeling essential green capital flow through instruments such as green bonds, sustainable bonds, and sustainability-linked bonds.

8. The prime minister outlined plans to elevate GIFT City's status as a modern hub for financial services and technology, aiming for expanded functions and influence.

9. Positioned as a tax-neutral financial centre, GIFT-IFSC seeks to compete with global hubs by offering fiscal incentives and a regulatory environment conducive to growth.

10. Commending the people of Gujarat, Modi celebrated the recognition of the state's traditional Garba dance on UNESCO's 'Representative List of the Intangible Cultural Heritage of Humanity.'

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Published: 09 Dec 2023, 12:34 PM IST
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