India going through major transformation: PM Modi

TIL Desk/National/Dehradun/ Prime Minister Narendra Modi has said India is going through major social and economic changes and the resultant New India will prove to be a catalyst for global growth. “India is witnessing rapid economic and social changes. The country is going through a big transformation. We are marching towards a New India,” Modi said at Uttarakhand’s maiden Investors Summit here.

“Every major institution in the world is predicting that in the coming decades, India is going to be the driving engine of world growth,” he said, adding that the country was witnessing the “best conducive environment” for business and investment. Modi said India’s economy had stabilized over the last few years, fiscal deficit had come down, inflation was under control and the middle class was rising.

“The scale and speed at which reforms are happening are unprecedented. In the last two years, the central and state governments have ushered in more than 10,000 reforms. Thanks to this, India has made a significant jump of 42 points in the global ‘ease of doing business index,” the Prime Minister said.