India bright spot, best destination for investors: PM

Institutions and credible voices that track global economy have expressed unprecedented confidence in India, and investors who are pumping their money into new India exude the same optimism, Prime Minister Narendra Modi said on Wednesday, pitching India as a global investment destination due to its strong democracy, young demography, political stability, and business-friendly policies.

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BHOPAL: 

Speaking at the Madhya Pradesh government's Global Investors Summit (GIS) in Indore, the PM also highlighted reforms the government had undertaken to boost the ease of living and doing business.

"The International Monetary Fund (IMF) sees India as a bright spot in the global economy, and the World Bank has expressed earlier that India is in a better position to deal with global headwinds than many other countries. India will be among the fastest-growing economies in the G20 group this year," he said via video conference.

His comments came days after IMF praised the resilience of India's economy amid relative global economic gloom and sluggish rates of growth in most developed countries, which are struggling to temper runaway inflation and shocks of the protracted Russia-Ukraine conflict.