Economic Times Global Business Summit

Broad theme of Global Business Summit 2020– ‘Collaborate to Create: Sustainable Growth in a Fractured World’.

Date: 6th March 2020

PM Modi’s statements include:

  • With the MUDRA scheme, more than Rs 11 lakh crores of loans were disbursed to first-time entrepreneurs and youth without a bank guarantee.
  • Insolvency and Bankruptcy Code was a step to bail out genuine businesses from the crisis.
  • World’s largest health insurance scheme is being implemented by India.
  • Six years ago, highway construction speed was 12 km per day, today it is 30 km.
  • Six years ago, 600 km rail line was electrified, last year we did 5300 Km.
  • Our airports are now handling over 34 crore passengers as against 17 crores six years ago.
  • In India, trains getting late was routine. But for the first time, a culture has been brought where passengers are being refunded their money in case the train is late. This is just a start.
  • Turnaround time at major ports 6 years ago was around 100 hours. Now it has come down to 60 hours.
  • RERA virtually wiped out black money from real estate. IBC opened up new vistas for debt distressed businesses and brought back a lot of the money stuck in them.
  • We brought Vivaad se Vishwas to bring in tax reform in India.
  • In 2019, the country got nearly $48 billion in foreign direct investment. This growth has been over 16%.
  • India attracted $19 billion of private equity investment last year, which was a growth of 53%.
  • We are among the top countries which have the lowest corporate tax.
  • Our policies are clear, fundamentals are strong. When we came in 2014, we were at number 11 in the global economy, today we are at number 5.
  • India is one of the largest contributors to UN Peacekeeping Forces, our troops are protecting people abroad.
  • The govt is trying to bring each section out of inaction. Using Direct Benefit Transfer, we changed the status quo. Several crores of money reached the right beneficiaries.
  • We changed the status quo with 10 per cent reservation to EWS.