Prime Minister Narendra Modi attended the third annual meeting of the Asian Infrastructure Investment Bank in Mumbai on Tuesday. This year’s theme is “Mobilizing Finance for Infrastructure: Innovation and Collaboration”. It recognizes the private sector’s vital role in bridging the infrastructure gap.
Prime Minister Narendra Modi presented India as one of the most investor friendly global economies. He said India will leave no stone unturned in continuing the reform trajectory and a continued engagement with the AIIB.
Prime Minister Narendra Modi sharing India’s growth story at the third annual meeting of the Asian Infrastructure Investment Bank. He said : India is an attractive investment destination because of its large domestic market size, availability of skilled labour and good physical infrastructure. As per UNCTAD’s World Investment Report, India continues to be one of the top FDI destinations in the world. India counts as an extremely low risk political economy. Simplified rules and regulations for businesses and bold reforms are the bedrock of India’s growth story. The Goods and Services Tax is one of the most significant systemic reforms that works on the One Nation – One Tax principle. From renewable energy to an infrastructure push India is well on track to achieve sustainable and equitable growth.
India is not only one of the founding members of AIIB but is also the 2nd largest shareholder in the Bank. Prime Minister Narendra Modi called on the Bank to increase funding to 100 billion dollars by 2025.
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.