Home / News / India /  'India will be fastest-growing major economy...': PM Modi credits 'stable, decisive' govt, other factors for country's '

Prime Minister Narendra Modi on Monday highlighted the IMF's growth projections for this year to laud India's trajectory. Addressing India Energy Week in Bengaluru, the PM cited several factors that had helped the country overcome all external challenges. Modi also urged global investors to explore investment opportunities in India's energy sector.

“Recently, IMF released the growth projection for 2023. The projection states that India is going to be the fastest-growing major economy. Despite the impact of the pandemic and war, India remained a global bright spot in 2022," the PM noted.

“Whatever the external circumstances, due to internal resilience, India overcame all challenges," the PM added. 

Praising the country for thriving in spite of the turbulent global situation, Modi contended that there were several factors behind this - including a ‘stable, decisive government’, sustained reforms and socio-economic empowerment at the grassroot level.

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"Today, there has been a change in the quality of life for crores of people in India. Today crores of people are coming out of poverty and reaching the level of the middle class," he said.

Modi told the delegates that India represented a major opportunity for foreign investors in the energy sector as the nation looks to boost its local output while continuing to cut emissions. 

"We are working on mission mode to increase our Energy Mix Natural Gas Consumption by the year 2030. Apart from this, another sector in which India is taking the lead in the world is that of green hydrogen," he added.

(With inputs from agencies)

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