We Are Losing The Essence Of Globalization: PM Narendra Modi At World Economic Forum
Speaking today at the plenary session at the WEF (World Economic Forum), PM said that we are losing the essence of Globalization.
“Globalisation is slowly losing its luster and that protectionism is gaining ground. Opposite to globalisation era, we are shrinking into a self-centered world. Countries these days are more self-centered,” PM said in his speech.
Today after 21 years, an Indian PM attended the WEF summit. The last Indian PM to attend the summit was H.D Deve Gowda in 1997. Modi recalled that time saying, “India's GDP in 1997, when the last PM came to Davos, was a little over 400 billion dollars. It has grown six times since."
In his speech PM highlighted the role India can play in the global scene, “If you want wellness along with wealth, wholesomeness along with health and peace with prosperity." In India, he said, "democracy, demography, and dynamism are shaping development and growth that is inclusive.”
Investing in India, travelling to India and manufacturing in India has become much easier, the Prime Minister said, listing his government's policies for this, and he added, "We have pledged to end license raj, we are removing red tape and laying out the red carpet," Modi added further.
EAM (External Affairs Minister) Sushma Swaraj took twitter to applaud Modi’s speech and called it unique and distinct.
“Prime Minister Narendra Modi's address in Davos has been unique and distinct. Prime Minister has raised country's stature by explaining the relevance of Indian thought, philosophy and cultural values as a solution to global challenges.”
Office of Rahul Gandhi took a jibe at PM Modi with a tweet saying, “Dear PM, Welcome to Switzerland! Please tell DAVOS why 1% of India’s population gets 73% of its wealth? I’m attaching a report for your ready reference.”
However, as soon as the PM landed in Davos last night, IMF(International Monetary Fund) reaffirmed that India’s economy is projected to grow by 7.4 per cent in the next fiscal year, making it the fastest growing economy again, ahead of China.
PM Modi met with 40 Global CEO’s from 18 countries last night including Satya Nadella, Mukesh Ambani amongst others and presented investment opportunities in India.
