India Emerging As Fastest Growing Economy In World: PM At ISB

Prime Minister Narendra Modi today said that India was the fastest growing economy in the G20 countries.

The PM participated in the 20th anniversary celebrations of ISB Hyderabad, and addressed the graduation ceremony of the PGP Class of 2022.

Speaking on the occasion, the PM said, "India is number one in smartphone data consumption, second in the number of Internet users and second in the Global Retail Index. The world's third largest startup ecosystem is in India. The world's third largest consumer market is in India. India is emerging as a major centre of growth today. Last year, the highest-ever recorded FDI came into India. Today the world is realising that India means business."

He also said that Indian solutions are being implemented globally. "Therefore, today on this important day, I would like to ask you to link your personal goals with the goals of the country," he said.

The PM started his talk by paying tributes to those who had contributed to taking the institute to its current glory. He recalled that former Prime Minister Atal Bihari Vajpayee had dedicated the institute to the country in 2001.

"Since then, more than 50,000 persons have passed out from ISB. Today ISB is among the top business schools of Asia. Professionals who have passed out from ISB are helming top companies and giving momentum to the country's economy. Students from here have created hundreds of startups and played a role in creating unicorns. This is an achievement of ISB and a cause of pride for the entire country," he said.

In a wide-ranging talk, the PM spoke about the Indian economy, the changing government and bureaucracy, the ever-improving infrastructure and the challenges of nation-building. Commenting specifically on the changing business landscape where informal and small businesses were increasingly expanding their horizons and giving employment to lakhs and crores of people, he stressed on the need to give more opportunities to grow to small businesses, and help them in connecting with the new local and global markets. And in that, he saw a great role for students from institutions like ISB.

"All you business professionals have a big role in taking the economy to the next level. And this will be a great example of service to the country for you," he said.