India aspires to and moving towards a $5 trillion economy: PM

Written by Newsroom Staff February 18, 2018 20:20

Mumbai: Prime Minister Narendra Modi inaugurated Maharashtra’s first Global Investor Summit ‘Magnetic Maharashtra: Convergence 2018’ in Mumbai on Sunday.

While delivering the inaugural address at MMRDA Grounds, Modi said, Maharashtra has developed a magnetic strength that is attracting domestic as well as global investors.

He said, summits like Magnetic Maharashtra are a great example of cooperative competitive federalism.

The Prime Minister said that India is on way to join the five trillion dollar economies club in a few years due to consistent efforts of the NDA government.

Congratulating Maharashtra for its aim to become a trillion dollar economy, Modi said, the state leads in infrastructure development and the efforts taken to strengthen business environment in the state in the last three years are showing results.

Making special mention of the Maharashtra Samruddhi Corridor, the Prime Minister said, the 700 kilometre super communication expressway and an adjacent smart city have the potential to create about 20 lakh new jobs and lead to immense growth in agriculture and agro-based development.

Modi said, his government believes in holistic, inclusive and comprehensive development; adding that potential, policy, planning and performance leads to progress.

Talking about budget reforms, he said, his government’s budget is not limited to outlay and output, but the focus is on the outcome.

He added that this year’s budget is focused on clean fuel and health for all. Elaborating about the mega healthcare scheme Ayushman Bharat, Mr. Modi said, the government plans to build 1.5 lakh wellness centres across India’s villages.

Maharashtra Government expects to sign about 4500 MoUs during the three-day summit attracting investment of about 10 lakh crore rupees and will generate 35 lakh jobs. The focus sectors will be textiles, engineering, food processing, defence manufacturing and MSMEs.

Conceptualized on four main pillars of employment, sustainability, infrastructure, and future industries, the summit will help Maharashtra rise as a trillion dollar economy by 2025. Maharashtra Chief Minister Devendra Fadnavis Fadnavis said that his government is focusing on building a future-ready state that supports ideas, passion and technology, a state that is made for tomorrow and a state that is #MadeForBusiness!

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