Modi says world's growth lies in India's growth

Prime minister Narendra Modi on Friday said that the growth of the world lay in the growth of India as he underlined his government's focus on development of infrastructure in the country and highlighted the budgetary allocation for energy transition.

''Today everyone believes that the Indian economy will continue to grow rapidly...the reason behind it is the rising self-belief among the Indians.... the aspirations of the people are driving the governments and the same are also giving momentum to the development,'' Modi said while speaking at the Global Investors Summit (GIS) here in the presence of entrepreneurs, industrialists and businessmen from the country and abroad.

The prime minister also heaped praise on the Yogi Adityanath government for what he said 'transforming' UP from a 'BIMARU' state to a state where there was a huge potential and which offered great opportunities to the entrepreneurs.

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''There was a time when UP was called a BIMARU (backward) state....people had lost all hopes.....the state was infamous for scams and lawlessness....this image has changed in the past few years.....now UP is considered to be a state of hope and opportunity....with improved law and order and stability UP has opened new avenues for wealth creators,'' he added.

Modi said that India had been carrying out reforms ''not out of compulsion but out of conviction'' and added that the procedures were being simplified and old laws had been scrapped.

The prime minister also highlighted the union budget, which was tabled in the Parliament a few days back, and said that the allocation for the development of infrastructure had increased. He said that Rs 35 thousand crore had been allocated for energy transition in this year's budget.

The three day Summit, which began on Friday, would witness a congregation of members from the academia, industry think tanks and businessmen from different parts of the country and the world who would be exploring business opportunities in the state.