India supersedes the G20 nations, PM Modi’s thumping announcement at the UP-Investor Summit

Economic growth brings overall prosperity to a country. It creates business, provides employment, earns revenue, and helps in building the infrastructure of a country which further helps in pacing the economic growth. The cyclical development also helps in strengthening the nation’s unity & integrity. Since 2014, the overall reform in economic & business policy has ignited the market growth to such a level that despite the slowdown in the growth of the world economy, India remains the fastest-growing economy almost throughout these years.

Modi’s achievements in 8 years

In the address at the Ground Breaking Ceremony @3.0 of the UP Investors Summit in Lucknow, PM Modi accounted for his whole 8 years of achievements in comparative ways. He also highlighted the fact that among the G-20 economies, India has emerged as the fastest-growing economy.

He said “India did not pause even during the Corona period, but increased the pace of its reforms. All of us can see its result today. We are the fastest growing of the G-20 economies. Today India is at number two on the Global Retail Index. India is the third-largest energy consumer country in the world. A record $84 billion in FDI came from more than 100 countries in the last year. India has set a new record in the last financial year by exporting merchandise worth more than $ 417 billion i.e. 30 lakh crore rupees”.

Talking about his overhaul reforms in the country he said “Recently, the NDA government at the Center has completed its 8 years. Over the years we have gone ahead with the mantra of Reform-Perform-Transform. We have emphasized Policy Stability, emphasis on Coordination, and emphasis on Ease of Doing Business. In the past, we have abolished thousands of compliances and old laws”.

Further talking about the unification of the country through the economy he said “ We have worked to strengthen India with our reforms. Be it One Nation-One Tax GST, One Nation-One Grid, One Nation-One Mobility Card, One Nation-One Ration Card, all these efforts are a reflection of our solid and clear policies”.

Comparing the state of the economy from 2014, he talked about his achievements in numbers. He said, “In 2014, there were only 65 million broadband subscribers in our country. Today their number has exceeded 78 crores. In 2014, one GB of data used to cost around 200 rupees. Today its price has come down to Rs 11-12. India is one of the countries in the world that has such cheap data.”

Speaking about his results of reform in the form of entrepreneurship growth. He said “Before 2014, we had only a few hundred start-ups. But today the number of registered start-ups in the country is also reaching around 70 thousand. More recently, India has also set a record of 100 unicorns.”

Read More: After regaining power Yogi Adityanath eyes his unfinished dream of a $1 trillion economy

UP at the driving seat of India’s growth story

UP’s population is about one-sixth of India’s population. The growth of UP will decide the fate of the country. It is highly important that UP grows rapidly to overcome the challenges of the job, poverty, infrastructure, health, education, and crime.

The Investment Summit is a way to attract investment in the state to provide employment & overall growth of the State’s economy. The multiplier effect of investment is enormous. Investments help industries in creating employment and revenues which ultimately brings prosperity to the state.

To guide the state in its growth trajectory PM Modi also laid the foundation stone of 1406 projects worth more than 80,000 crore rupees on the occasion of the investors’ summit.

Read More: From Akhilesh’s Saifai Mahotsav to Yogi’s Investors Summit worth 10 lakh crores, how UP is evolving

Earlier, the UP government had brought an investment worth INR 4.28 lakh crore in the UP investors Summit 2018 organized by the state. Meanwhile, in the UP’s investors’ summit 3.0, business tycoon and one of Asia’s richest men, Gautam Adani, has announced an investment of Rs 70,000 crore which would create around 30000 jobs in the state.

UP’s reform policies and business-friendly environment has started to give results in the form of economic development. The Gross State Domestic Product (GSDP) of UP for 2020 -21 is INR 19.4 lakh crore. It has secured the second spot in the GSDP leaving behind industrialized states like Gujarat & Tamil Nadu.

With investment and business growth, the economy is reaching a new height. The internal competitive environment among states will further boost the overall development of the country. Further, the centre’s infrastructural investment in energy, construction, road, railways, highways, expressways, airways, and maritime will pave the way for India to make India prosperous, peaceful and strong.