LONDON, Nov. 19, 2015 /PRNewswire/ -- In a powerful address to Prime Minister David Cameron, British authorities and international business leaders at London's Guildhall last week, India Prime Minister Narendra Modi highlighted the staggering growth rate of the country's economy (according to the World Bank, +7.5 percent in 2016) and the vast opportunities for foreign direct investments in the region.
Quoting Frost & Sullivan's pioneering research on the world's top 100 countries for Growth, Innovation and Leadership, PM Modi noted the growth consulting firm's number 1 ranking of India. The positive outlook on Indian investments was also backed up by Moody's recent ratings, the World Economic Forum's global competitive index, and the United Nations' recommendations.
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Highlighting the extensive economic, financial, industrial, and social reform programmes implemented in the country, and the new public-private partnerships, PM Modi underlined how foreign direct investment inflows have soared up by 40 percent in India this year, compared to last year, restoring global players' trust.
There is significant potential for India and the UK to further strengthen their strong economic ties. India is working on building futuristic physical and social infrastructure. The largest opportunities range from building 50 million homes to setting up 100 smart cities; from the modernization of railway networks and local mobility to the generation of 175 GW of renewable energy.
"India is on the threshold of a big IT revolution," noted PM Modi. "We are encouraging it to fast-track the services to our 1.25 billion people. New technology and renewable energy is our new Mantra. Whatever we do, we will do in a cleaner and greener way. Energy efficiency, water recycling, waste to energy, clean India and river cleaning are among those initiatives. These initiatives provide additional avenues for investment in modern technology and human resources."
A variety of strategic programmes have also been launched, such as the 'Make in India' manufacturing initiative, the Digital India and Skills India campaigns and the Start Up India campaign.
According to Aroop Zutshi, Global President and Managing Partner, "Global manufacturing is heading towards the fourth generation of manufacturing revolution (Manufacturing 4.0) which will redefine the terms of differentiation amongst countries. Prime Minister Modi's Make in India initiative will not only boost Indian manufacturing potential but will reinstate the country's global image as a high tech innovation hub as well".
"It is an honour for us in Frost & Sullivan to be quoted by the Prime Minister of India", adds Sarwant Singh, Managing Partner for Europe and Africa. "We strongly believe that India has huge potential and the policies of the Indian government to open more sectors to FDI, bring manufacturing through its 'Make in India' campaign and investment in infrastructure should bode well for a bright future for the country."
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