Prime Minister Narendra Modi, on Saturday, asserted that in a world that is filled with uncertainties, India is brimming with hope.
Addressing the Hindustan Times Leadership Summit, the PM said India is a model of high growth and low inflation, and added that the country's 8.2 per cent growth in the second quarter of this fiscal shows that it is becoming the growth driver of the global economy.
The changes happening in India are not just about possibilities but are a saga of changing thinking and direction, he said.
"We are standing at a juncture where one fourth of the 21st century has passed. The world has seen many ups and downs: financial crisis, global pandemic, technological disruptions, world falling apart. We are seeing wars; these situations in one way or the other are challenging the world," Modi said.
The world is full of uncertainties but India is being seen in a different league altogether, he said.
"India is full of self-confidence. When there is talk of a slowdown, India writes the story of growth. When there is a trust deficit in the world, India is becoming a pillar of trust; when the world is moving towards fragmentation, India is becoming a bridge builder," Modi said.
"This is not just a number but is a strong macroeconomic signal. It is a message that India is becoming the growth driver of the global economy," Modi said.
Global growth is around 3 per cent while G7 economies are growing at an average of about 1.5 per cent, he pointed out.
"At such a time, India is a model of high growth and low inflation," Modi said.
There was a time when people, especially economists in our country, used to express concern over high inflation, but the same people now talk of inflation being low, he said.
Claiming that a large part of India’s potential has remained untapped for a long time, he noted, "When this untapped potential of the country gets more and more opportunities, and when it participates in the nation’s development with full energy and without any obstacles, the transformation of the country is inevitable... Today, India is moving forward with the vision of tapping this untapped potential."
Modi noted that even India's villages and small towns are being equipped with modern facilities and added that such small towns are becoming new hubs for startups and MSMEs.