Indian Economy News

India will become growth engine of the world: PM Modi in Kuwait

During his address to the Indian diaspora in Kuwait, Mr. Narendra Modi, Prime Minister, articulated a vision for India as a future hub of global development and a global growth engine. Speaking at the "Hala Modi" event at the Sheikh Saad Al-Abdullah Indoor Sports Complex, he highlighted India's rapid advancements in technology, infrastructure, and sustainability, asserting that the nation is now the fifth-largest economy globally and a leader in fintech with the third-largest startup ecosystem. He emphasized the extensive progress made in telecommunications, noting that the length of optical fibre laid in the past decade equates to eight times the distance between the Moon and Earth. He underscored the potential for collaboration between Indian startups and Kuwait in sectors such as fintech, healthcare, smart cities, and green technology, positioning India as a prospective skill capital able to meet global demands. 

He also acknowledged the vital role of the Indian diaspora in strengthening India-Kuwait relations, expressing gratitude to Mr. Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, the Amir of Kuwait, for the invitation that marked the first visit of an Indian Prime Minister to Kuwait in over four decades. He praised the contributions of the Indian community, which have garnered recognition from both the Kuwaiti government and society. The Prime Minister discussed shared goals between India and Kuwait, emphasizing their mutual focus on innovation and economic development. He invited the diaspora to participate in upcoming events in India, including the Pravasi Bharatiya Divas, in January 2025, reinforcing the importance of their engagement in the journey toward a developed India and the strengthening of cultural ties between the two nations. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.