Prime Minister Narendra Modi on Sunday said India will be a catalyst for global development as the country is going through a major social and economic change. He also said 40% of the country’s total energy capacity will come from renewable sources by 2030.
Modi was addressing the first Uttarakhand investors’ summit in the hill capital.
“India is witnessing rapid economic and social changes. The country is going through a big transformation. Every major institution in the world is predicting that in the coming decades, India is going to be the driving engine of the world growth,” he said, inaugurating the two-day summit.Industry executives such as Mahindra & Mahindra managing director Pawan Goenka, and Patanjali’s Acharya Balkrishna besides representatives from Japan, Singapore and Czech Republic were present on the first day of the summit.
Modi further said the economy has stabilised in the last few years with inflation under control and rising middle class income. “The scale and speed at which reforms are happening is unprecedented,” he added.
The Uttarakhand government has identified 12 focus areas to attract investment. It includes tourism and hospitality, renewable energy, food processing and pharmaceuticals among others. Chief minister Trivendra Singh Rawat said investments of around Rs 75,000 crore have been received so far. “We have signed proposals of Rs 27,000 crore in the solar power sector, Rs 14,000 crore in health, Rs 11,000 crore in manufacturing and Rs 13,000 crore in the tourism sector,” he said.