Prime Minister said Global confidence in India’s economy is rising adding that our foreign exchange reserves of more than 400 billion US dollars provide us adequate cushion.
He added from the point of a foreign investor, India counts as an extremely low risk political economy where we have simplified rules and regulations for businesses and undertaken bold reforms.
Prime Minister Modi described the 21st century as Asia’s century and said that New India is taking the lead in the sphere of inclusive and sustainable growth.
It is with this vision that India and China, two of the world’s fastest growing economies have came together to form the Asian Infrastructure Investment Bank.
With Prime minister Narendra Modi’s call to increase funding to 100 billion dollars by 2025 India has spelt out the agenda for the coming years.
Prime Minister Modi further said the Indian story of economic resurgence closely mirrors that of many other parts of Asia.
Prime Minister also said that we are now living through what many term as the ‘Asian Century’.
Prime Minister urged that AIIB to look into potential investment opportunities in India in several sectors including renewable energy, agriculture and logistic (infrastructural) development.