Prime Minister Narendra Modi has highlighted renowned global investor Mark Mobius’ ‘love’ for India. PM Modi on Monday emphasized the increasing confidence of global investors in India’s thriving economy, citing the recent comments by Mark Mobius.
In August, Mobius had expressed his strategy of investing equally in the US and India for the next 6 months, 1 year, and beyond 3 years.He emphasized that while conditions may change over time and other countries, such as China, may become attractive, India’s growth path is not short-term but a long-term development that will persist for many years.
“Of course conditions will change over time and there may be a time when other countries begin to look attractive, such as China. But I think it is important to remember that the Indian growth path is not short-term. It is a long-term development that will continue for many years. So, India is the place to be,” Mobius had told ET Now.
Also Read | When will Sensex hit the 1 lakh mark? Soon! Benchmark index gives returns of 850 times in 45 years
Citing Mobius’ view, PM Modi, speaking at the NDTV World Summit, said, “Mark Mobius is one of the many persons who loves India. His excitement about the opportunities here speaks volumes. When he suggests that global funds should invest at least 50% in the Indian stock market, it carries a significant message,” Modi said, underlining the vast opportunities available for global funds to benefit from India’s robust market.
PM Modi also mentioned that several agencies have revised their growth forecasts for India upward, attributing this to the swift progress made by his government during its third term.
In the past 125 days, the government has approved the construction of 3 crore new homes for the underprivileged and initiated infrastructure projects worth Rs 9 lakh crore, Modi said.
Also Read | Good news! World Bank raises India’s GDP growth forecast to 7% for FY25
He further highlighted that amidst global uncertainties and challenges, India has emerged as a beacon of hope for the world. Despite facing its own difficulties, India’s positive outlook has propelled the nation forward, even in the face of global tensions.
Moreover, Modi noted that India’s growth is occurring at an unprecedented scale across all sectors, making it a topic of discussion and optimism in the context of the “Indian century,” even as the world grapples with various concerns and instabilities.
The Indian economy, which is the fastest growing major economy in the world, is all set to become the 4th largest economy in the world in 2025 as per IMF’s nominal GDP predictions.