A look at the highlights of Modi’s speech.
In his keynote speech at World Economic Forum in Davos Prime Minister Narendra Modi spoke about renewable energy, terrorism, data, reforms, among other things. This is Modi's second visit to Switzerland in nearly two years after his visit in June 2016.
A look at the highlights of Modi’s speech-
Prime Minister Narendra Modi on India's future
India will be the world's fastest-growing major economy in 2018, according the IMF's latest World Economic Outlook update.
India's GDP has been growing at around 7% per year since Prime Minister Narendra Modi took office back in 2014, and next year India’s economy will be one-third bigger than when he came to power. However, major economic and social challenges - such as income inequality, gender disparity and extreme levels of pollution - persist.
Data an asset, but also presents challenges: PM Modi
Today, we face new and difficult challenges in terms of economic outlook and security. Technology driven transformation is taking place everywhere and data presents us with great opportunities to solve such issues. But data also presents its own challenges. It is believed whoever controls data is the most powerful and can shape the world.
Modi also spoke about terrorism. “As dangerous as terrorism is, even more dangerous is the artificial divide created between good and bad terrorists,” he said.
Modi also said that some two decades later, we live in a society that is a network of other complex networks. Today, we are living in the world of big data, AI and robots. Technology has impacted every aspect of our lives.
This is creating the greatest opportunities, but also huge challenges, said the Indian PM.
Rapidly changing technology could lead us to prosperity, but it is also creating fault lines, he added.
Modi at WEF said that Indians are proud of their democracy and diversity. “For a society with diverse religions, cultures, languages, attires and cuisines, democracy is not just a political system but a way of living,” he said. In India democracy, demography and dynamism are giving shape to development and destiny, he added.
Growth in India
Change in India's ranking is an indicator that the people in India have warmly welcomed the change in policies as the road to a better future for them, Modi said.
India has cut red tape and removed artificial borders within the nation by introducing one nation, one tax in the form of GST, he added.
FDI in India
Modi also talked about how working, travelling and manufacturing in India is way easier now and added that all sectors of India are open for FDI.
It is necessary for the big powers to cooperate between themselves. We will have to set aside our differences, Modi added. He added that looking at the many fractures and many cracks in the world, it is necessary that everyone should focus on multiple directions for a shared future.
Harry Potter was an unheard name, tweeting was done only by birds and Amazon referred to dense forests in 1997, Prime Minister Narendra Modi said today to stress upon the changes the world has seen in the past 20 years.
“The world is changing fast today and there are new and serious challenges related to peace and security and various other matters,” Modi said.
India’s GDPHe also noted that the last time when an Indian prime minister came here in 1997, India's GDP was a little more than USD 400 billion, but now it has increased more than six times.