Niti Aayog CEO Amitabh Kant spoke to Republic TV on Wednesday, September 25, about the Prime Minister's address at the Bloomberg Global Business Forum (GBF) in New York. Amitabh Kant explained that the Prime Minister gave a very strong message about India's economic calibre. He exclaimed that the Prime Minister believes that India should be competitive. He also spoke about how India's FDI (Foreign Direct Investment) is an advantage to the nation's economy.
In his interview Amitabh Kant said, "The PM himself believes that India must be competitive and India must be an integral part of the global supply chain,and if you look at India's track record and if you were to look at the past five years,India is one of those rare countries that have opened it's economy to Foreign Direct Investment, unlike so many other countries India opened every aspect of its economy, therefore FDI is grown by 66% at a time when the global rate of FDI has fallen by 13%." He also said that India has opened every sector of its economy. "We've all opened up every sector of our economy 95% of FDI comes through automatic route. This is a lesson to the world that India has really been aggressive as far as opening its economy is concerned. The PM is a great believer that India must export to Europe and America." he added.
Amitabh Kant mentioned that there are two key takeaways from PM Modi's address; one is that all the events leading up to this moment is only the beginning and that there more developmental goals and executable plans are underway. He also quoted the PM and said: "India will benchmark itself against global rules, global laws and global government". Niti Aayog chief then reiterated that point adding, that to him this was sending a clear signal to the world that India will take its economy back to a high growth rate and that all possible measures to ensure the youth of the nation benefit from the country's economic growth.
He also said the Prime Minister gave a very strong message today, " We will benefit from four key factors that are Democracy, demography, huge demand we have because of the domestic young population and today he(Prime Minister Narendra Modi) added the fourth one; the decisiveness of the Government, this sends out the message that the Government will be very decisive as far as economic policy is concerned." he said.