Prime Minister Narendra Modi pitched India as the most attractive investment destination, aided by reforms and the nation’s digital transformation.
While the world focused on quantitative easing during the pandemic, India undertook reforms, Modi said in his special address at the World Economic Forum’s virtual summit on Monday.
He highlighted the India’s government’s “unprecedented impetus on digital and physical infrastructure. 6,00,000 villages are being connected with optical fibre … and $1.3 trillion investment is planned for enhancing connectivity,” he said.
The nation has earmarked a target of $80 billion through asset monetisation, he said.
He highlighted the corporate tax cuts that are contributing to ease of doing business, making India an attractive destination for global businesses. Doing away with the provisions of retrospective taxation, he said, will also contribute to the vision of India in becoming a "trusted partner" for global supply chain adding that sectors like drones, space and geo-spatial mapping have also been deregulated.
Export of vaccines and other medical supplies highlighted the nation's vision of ''one Earth, one health", he said.
He further lauded India's IT sector that contributed in making apps like CoWin and Aarogya Setu that facilitated easy information during the pandemic and also assisted in the vaccination programme of the country. These applications have also received the world's interest, he said.
Modi also highlighted the need for a collective and synchronised response needed to tackle challenges to the the global order like the threat of disruption in supply chains and inflation.
