Dr. Syama Prasad Mookerjee Research Foundation

Salient Points of PM’s address at the opening ceremony of the Third Annual Meeting of AIIB on 26 June, 2018

I believe that India and AIIB are both strongly committed to making economic growth more inclusive and sustainable. In India, we are applying novel Public Private Partnership models, Infrastructure Debt Funds, and Infrastructure Investment Trusts to fund infrastructure.

India is one of the most investor-friendly economies in the world. Investors look for growth and macro-economic stability. They want political stability and a supportive regulatory framework to ensure protection of their investment

From the perspective of larger scale of operations & higher value addition, an investor is also attracted by a large domestic market size, availability of skilled labour & good physical infrastructure. On each of these parameters India is well placed & has performed very well.

Our macro-economic fundamentals are strong with stable prices, a robust external sector and a fiscal situation firmly in control. Despite rising oil prices, inflation is within the mandated range.

The Government is firmly committed to the path of fiscal consolidation. Government debt as percentage of GDP is consistently declining. India has achieved a rating upgrade after a long wait.

The external sector remains robust. Our foreign exchange reserves of more than 400 billion US dollars provide us adequate cushion. Global confidence in India’s economy is rising. Total FDI flows have increased steadily & India continues to be one of the top FDI destinations.