Modi's bold prediction: India is emerging as the third largest economy, revealed in Uttarakhand Investor Summit.

New Delhi: Prime Minister Narendra Modi presented a compelling vision at the ‘Uttarakhand Global Investors Summit 2023’, expressing confidence that India will secure its position as the world’s third largest economy in his third term. Addressing the gathering at the Forest Research Institute in Dehradun, Modi called on investors to join him on his journey to Uttarakhand, promising a unique blend of “divinity and development”.

The summit inaugurated by Modi is an important moment for investors, with the Prime Minister assuring that India is on the verge of becoming the third largest global economy. He stressed the unprecedented combination of a stable government, supportive policies, a ‘reform for change’ mentality and confidence that will drive growth.

Modi urged business leaders to engage with the progress of Uttarakhand and stressed that efforts should be aimed at setting global standards while contributing to a developed India. Focusing on self-reliance, he urged to move away from dependence on other countries especially in critical sectors like petro products, coal and pulses.

Acknowledging the challenges, Modi stressed the country’s resilience during the COVID-19 pandemic and geopolitical uncertainties. He underlined the efforts of the government at both the state and national levels to enhance ease of doing business, connectivity and infrastructure.

Highlighting the potential of Uttarakhand, Modi encouraged investors to enter the state’s tourism sector, developing theme-based circuits focusing on nature and heritage. The Prime Minister lauded the emergence of an aspirational India, with millions of people emerging from poverty and contributing to a strong consumption-led economy.

The summit saw the launch of the state government’s ‘House of Himalayas’ brand, aimed at promoting ‘Vocal for Local’ and ‘Local for Global’ initiatives, especially supporting women self-help groups. Modi urged investors to explore partnerships with these groups to market local products globally.

The two-day investor summit themed “Peace to Prosperity” is set to attract thousands of global investors and delegates. Union ministers, ambassadors and leading industrialists are expected to attend, marking a significant step forward in India’s economic story and Uttarakhand’s potential as an investment destination.