Experts, analysts and economists have hailed India as a "bright spot", Prime Minister Modi said

The world is convinced about the fundamentals of the Indian economy in these uncertain times, Prime Minister Narendra Modi said on Wednesday.

In his inaugural address to "Invest Karnataka 2022," the Prime Minister highlighted that even in times of a global crisis, experts, analysts and economists have hailed India as a "bright spot".

“These are uncertain times, still most of the nations are convinced about the fundamentals of the Indian Economy. In this period of fragmentation, India is moving with the world and giving emphasis on working with the world," Prime Minister Modi said.

“We are continuously working towards cementing our fundamentals to further strengthen India’s economy with each passing day," he added.

During his address, Prime Minister Modi explained the change of approach from 9-10 years ago when the country was grappling with policy and implementation-related issues.

He underlined that “instead of trapping the investors in the red tape, we created an environment of the red carpet for investment, and instead of making new complicated laws, we rationalised them.”

PM Modi said building a "New India" is achievable only with "bold reforms, big infrastructure, and best talent." He continued by saying that the only way to attain development goals is to emphasize "investment and human capital."

He went on to say, "Investing in India means investing in inclusion, investing in Democracy, investing for the world, and investing for a better, cleaner and a safer planet."

In his remarks to the gathering, PM Modi emphasised the importance of "Brand Bengaluru," noting that whether it comes to talent or technology, Bengaluru is the first place that comes to mind.

He also expressed his satisfaction with the way the investors' meeting was organized in Karnataka, saying it was the epitome of "cooperative and competitive federalism."

According to the Prime Minister's Office's (PMO), the meet's objectives are to draw potential investors and create a development strategy for the next ten years. Karnataka will also get the chance to introduce the world to its culture due to the event's international scope, it added.

More than 80 speaker sessions will take place throughout the three days of the conference in Bengaluru, which spans from November 2 to November 4.