PM Modi at Davos: Indian economy to touch USD 5 trillion by 2025

Prime Minister Narendra Modi on Tuesday addressed the World Economic Forum in Davos where he asserted that Indian economy would more than double and touch USD 5 trillion by 2025.

The Forum is being attended by 70 head of states. 38 heads of major international organisations such as the WTO, the IMF and the World Bank with nearly 2,000 CEOs including over 100 from India in attendance.

Calling India as an investment destination, the Prime Minister said that the government is following the principle of reform, perform and transform.

He said that new opportunities are coming for Foreign Direct Investment (FDI) and 1,400 archaic laws that hamper the country’s progress have been scrapped.

PM Modi also mentioned the Goods and Services Tax (GST) implementation, an increase of technology apart from stating that the democracy, demography and dynamism are shaping their destiny.

Narendra Modi is the first Indian Prime Minister to attend the WEF in Davos after Deve Gowda’s visit in 1997.