Asia is ray of hope for global economic recovery: PM Narendra Modi


Prime Minister Narendra Modi on Saturday Asia is the ray of hope for global economic recovery.


Addressing the “Advancing Asia Conference” along with International Monetary Fund (IMF) Managing Director Christine Lagarde here today, the Prime Minister said, “India has a special place in Asia. It has historically contributed to Asia in several ways.”


India has dispelled the myth that democracy and rapid economic growth cannot go together, the PM asserted, adding that “India has also shown that a large, diverse country can be managed in a way that can promote economic growth and maintain social stability.”

While advocating for his country, Modi said, “Our rapid economic growth is also very distinct in Asia. We have never tried to gain in trade at expense of our partners.”


“We have achieved major gains in macro economic stability.”


Noting down India’s achievement, Modi maintained, “Corruption and interference in the decisions of banks and regulators are now behind us.


“Entrepreneurship is booming, following a series of steps we have taken,” he added.

“We have increased investment in rural and agriculture sector, because that is where majority of India still lives,” PM Modi said.


“But our help to the farmers is not based on giving hand-outs. We aim to double farmer incomes,” the PM noted.

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