PM Modi hails India's startup system, says IMF & World Bank recognise India's global power

Prime Minister Narendra Modi, in the last leg of his three-nation tour, addressed the Indian diaspora at Qudos Bank Arena in Sydney, Australia, on Tuesday. Amid thundering applause, PM Modi lauded India's startup system and stated that India is the fastest-growing economy in the world with the most number of young talents.

"India is the nation with all resources and the country is challenging strong global headwinds. Everyone is aware of the Indian startup ecosystem. Today IMF considers India a bright spot in the global economy. World Bank believes that if anyone is challenging global headwinds, it is India. The country has no dearth of capability or resources. Today, India is the biggest and youngest talent factory," said PM Modi at a community event in Sydney, Australia.

PM Modi highlights India's FinTech revolution

PM Modi while highlighting the FinTech revolution in India, stated that amid the once-in-a-100-years pandemic, India made record exports last year. "Today, our Forex reserve is scaling new heights. Example of how India is working for global good lies in our digital stake. You are well aware of India's FinTech revolution," PM Modi added. 

India-Australia relations touch new heights 

PM Modi went on to hail India-Australia ties and explained the '3Cs and 3Ds' that are holding both nations together. "Earlier, it was said that India and Australia's relation is defined by 3Cs- Commonwealth, Cricket and Curry. Then it was said that our relationship is defined by 'Democracy, Diaspora and Dosti. Some people also said that our relationship depends on Energy, Economy and Education. But I believe that the relation between India-Australia is beyond this, it is mutual trust and mutual respect," he said. 

The Prime Minister also explained that diplomatic relations have developed mutual trust and mutual respect between India and Australia. "The real reason, the real power is - all of you Indians who live in Australia," he said. While concluding his address, he urged the Indian community members to bring at least one Australian friend or relative with them whenever they visit India so that they can get exposure to Indian culture.