A New India Is Rising On The Pillar Of Economic Opportunity For All: PM Modi At AIIB Meeting

| June 26 , 2018 , 14:06 IST

Prime Minister Narendra Modi on Tuesday inaugurated the third annual meeting of the Asian Infrastructure Investment Bank (AIIB) in Mumbai. In an address at the annual meeting of the AIIB, PM Modi highlighted the government's firm commitment to the path of fiscal consolidation.

He also discussed issues ranging from economic growth to infrastructure development, policy initiatives, investment, innovation and job creation.

"A New India is rising. Now, India stands on the pillars of economic opportunity for all, knowledge economy, holistic development, and futuristic, resilient and digital infrastructure," said PM Modi at the meeting of Asian Infrastructure Investment Bank in Mumbai.

"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 time," he said.

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

"India and AIIB are both committed to make economic growth more inclusive & sustainable. In India, we are applying novel Public Private Partnership (PPP) models, Infrastructure Debt Funds and Infrastructure Investment Trusts," he said.

The Asian Infrastructure Investment Bank (AIIB), with 86 member states from across the world,  is a multilateral development bank that aims to support the building of infrastructure the Asia-Pacific region.