Union Minister Sarbananda Sonowal makes strong pitch for 'India Growth Story' at Global Investor Summit in Andhra

New Delhi [India], March 4 : Union Minister Sarbananda Sonowal made a strong pitch for the India Growth Story at the Andhra Pradesh Global Investor Summit in Visakhapatnam on Saturday.
Delivering the keynote address at the valedictory session of the Global Investor Summit, the Union Shipping Minister stressed the innovative schemes laid out by the Narendra Modi Government in order to propel growth in manufacturing.
He said that the innate ability of the Indian economy to withstand the global economic challenges has given the country a booming prospect as it remains one of the brightest spots of growth & development in the world.
"In Azadi Ka Amrit Kaal, the country is moving fast on the path of development with the goal of a developed India through the creation of modern infrastructure. Our Prime Minister's vision is to ensure inclusive development and growth by developing our ports, railways and highways to enhance the supply chain and reduce logistics costs. Prime Minister Gati Shakti plan has not only accelerated the pace of infrastructure development but has also reduced the cost of projects. Multi-Modal Transport System is the future of every city. Andhra Pradesh and the coastal regions of India will move ahead in this race for development with new momentum," Sonowal said.
Speaking about the robust state of the Indian Economy, the Union Minister pitched for increased investment from the businesses in the India growth story.
"As per the latest Economic Survey, India received the highest ever FDI inflows of USD 84.8 billion in the service sector during the last fiscal. This is a result of the government's investor-friendly FDI policy under the dynamic leadership of Narendra Modi," he said.
Echoing the optimistic outlook of the Indian economy, Sonowal further said, "India continues to open up its sectors to global investors by raising the investment limits, removing regulatory barriers, developing infrastructure, and improving the business environment. Despite the Russia-Ukraine war, US monetary policy, global recession and other global uncertainties, the Indian economy remained healthy."
"India will attract the eyes of overseas investors in 2023 as well on account of measures such as the rollout of the production-linked incentive (PLI) schemes; promote ease of doing business, reducing the compliance burden for industry and the projection of healthy economic growth. The PLI scheme was announced for 14 sectors, including white goods, telecom and auto components with an outlay of Rs 1.97 lakh crore to enhance India's manufacturing capabilities and exports," he added.
Talking about the marine economy of the country, India's Shipping Minister said that the Indian ports have to gear up for the raising demand for port services due to various schemes implemented by visionary PM Narendra Modi.
"The sea has been a source of wealth and prosperity for India for centuries, and our coasts have served as gateways to this prosperity. Today, projects worth thousands of crores of rupees are underway in the country for port-led development. They will expand further in future," said Sonowal.
He said that today, India of the 21st century is implementing the idea of holistic development of coastal districts.
"The Government under the visionary leadership of Prime Minister Narendra Modi, the PM GatiShakti has brought various line ministries closer, to work together resulting in faster results in achieving the Goals and has yielded benefits to the Public at large. Sense of togetherness is the key of PM GatiShakti. This will benefit all sections of the people of India, foster competitiveness and make India march ahead to compete with other developed countries of the world," he said.
The session was also attended by the Chief Minister of Andhra Pradesh, Jagan Mohan Reddy, the Union Minister of DoNER, G Kishan Reddy among other leaders of trade and industries of the country at the Advantage Andhra Pradesh Global Investor Summit 2023 at Visakhapatnam.