Prime Minister Narendra Modi lauded India’s economic resilience, citing a GDP growth of 7.7% in the first six months of the current fiscal year as evidence of the country’s robust economic foundation. Speaking at the ‘Infinity Forum 2.0’ conference, Modi emphasized the transformative reforms undertaken in the last decade, attributing the growth to India’s strengthening economy. The prime minister expressed the government’s ambition to position Gujarat International Finance Tec (GIFT) City as a global hub for new-age financial and technology services.
Modi highlighted India’s pivotal role in the global arena, with the world pinning its hopes on the country’s economic trajectory. He underscored the significance of India’s growth, emphasizing that it is not an isolated occurrence but a result of sustained efforts and reforms. The prime minister outlined the vision for GIFT City, aspiring to make it a global nerve centre for contemporary financial and technology services.
GIFT City aims to contribute to India’s ambitious goal of achieving net-zero emissions by 2070. Modi articulated plans to transform GIFT City into a hub for global sustainable finance, essential for funding the $10 trillion investment required to realize the net-zero target. The focus on green finance includes initiatives like green bonds, sustainable bonds, and sustainability-linked bonds to attract green capital flow.
Acknowledging India’s position as one of the fastest-growing fintech markets globally, Modi highlighted the emerging role of GIFT International Financial Services Centre (IFSC) as a central hub for the country’s fintech ecosystem. The prime minister called upon experts to contribute ideas for developing a market mechanism for green credits.
In a moment of cultural pride, Modi congratulated the people of Gujarat for UNESCO’s recognition of the state’s traditional Garba dance, which has been included in the ‘Representative List of the Intangible Cultural Heritage of Humanity.’
The prime minister’s address showcased India’s commitment to economic growth, sustainability, and technological innovation, positioning the nation as a key player on the global stage.
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