India is 6th largest industrial hub: PM

Says we’re on brink of being most digitised

India is today the sixth largest manufacturing nation in the world, Prime Minister Narendra Modi said here on Tuesday.

“Make in India has become the biggest brand that India ever had, and the government is strongly committed to continue with the economic reforms,” he said while addressing the Vibrant Gujarat Summit.

The PM also told the delegates that India today was among the top 10 nations in FDI inflows.

India’s strength, he said, lay in three Ds. “Demography, democracy and demand are India’s strengths. We are also on the threshold of becoming the world’s most digitised economy,” Mr Modi said in a reference also to his current drive to turn India into a digital-transactionsdriven economy.

Mr Modi said his government had also evolved a culture of healthy competitions among the states, that “are being rated on the parameters of Good Governance... We have liberalised our FDI regime in many sectors.”

Gandhinagar, Jan. 10: With the government taking steps to improve business climate, total FDI inflows in the last two-and-a-half years have touched $130 billion, Prime Minister Narendra Modi said on Tuesday.

Mr Modi, while addressing investors at the Vibrant Gujarat summit here, also said that ‘Make in India’ initiative has become the “biggest brand” that the country has ever had.

“The total FDI in the last two-and-a-half years have touched $130 billion. The FDI equity inflow in the last two financial years was 66 per cent higher as compared to previous two financial years. In fact, the total FDI inflows received during the last year have been the highest ever,” the Prime Minister said.

He said the number of countries from where FDI is coming in, and the sectors in which they are being routed have also diversified in the last two years.

“India is now the leading recipient of capital investment in the AsiaPacific. It also continues to be among the top ten countries globally in terms of FDI inflows,” he added.

The Prime Minister also said that “the story does not end here as India has left every other country behind in terms of providing return on investment”.

The government has liberalised FDI regime in many sectors and in various ways and India is on Tuesday among the most open economies, Mr Modi said.