Global Investors' Meet 2019 in Dharamshala: India can achieve $5-tn economy with active participation of all states, says Narendra Modi

India will be able to achieve $5-trillion economy with the active participation of all the states, said Prime Minister Narendra Modi.

#NewsAlert – We aim to make the Indian economy - 5 trillion economy: PM Narendra Modi at Investors Summit in Himachal Pradesh. pic.twitter.com/gm9TFKd9SB

— News18 (@CNNnews18) November 7, 2019

The prime minister was addressing the delegates after inaugurating the two-day Global Investors Meet 2019 in Dharmashala, Himachal Pradesh, on Thursday.

“Every state and every district of the country has great potential and they will play a vital role in achieving the target,” he said.

As many as 209 foreign delegates are taking part in the investors’ summit, which kickstarted amid heavy snowfall in the state.

He said that the states are competing among themselves to create a better investment atmosphere in the country instead of the previous trend of providing incentives to industrialists.

“Positive competition can be seen among the states. The governments are taking initiatives and are removing unimportant mechanisms. The rise in this competition will help our industry grow better at the global level,” Modi said.

Unnecessary interference of government is an obstacle in the growth of any state, he said.

Pointing out the changing scenario in the country on the investment front, Modi said that India is now among the top 10 performers in ‘Ease of Doing Business’ and improved its rank by 79 points between 2014 and 2019.

“Four wheels of growth are society, govt, industry and knowledge. We are running fast using these four wheels,” he said.

Modi said that the ecosystem is changing, rules and regulations are changing.

“This is a message to the world that we are ready. Today, Himachal is saying ‘Yes, we have arrived,” said Modi.

He said that previously, investors summits used to happen only in a few regions of the country.

“But now things are different. In Himachal, single-window clearance, land allotment transparency is helping the business to come in the state,” said the prime minister.

Himachal Pradesh holds a lot of potential for the pharma industry Modi said adding that the quality infrastructure gap has to be filled up and the government is working on it.

On Wednesday, the weathermen predictions of rain and thundershower in hills during the next two days, coinciding with the global investors meet had sent its organisers in tizzy with authorities, including Himachal Pradesh Chief Minister Jai Ram Thakur, turning to weather gods for smooth conduct of the event.

— With inputs from agencies