He said India has a lot to give to the world, particularly in terms of talented workforce with modern skills, and his government is working in this direction with the mantra of 'sabka sath, sabka vikas' (with all, development for all).
Addressing a gathering of Indian community here on the first day of his two-day visit, Modi said India was earlier "one of the countries" in the world but now it has become "very important country".
"Despite adverse conditions globally, India has strengthened its economy.... Today, India is progressing economically and the world is looking at us...The country of over a crore people can do a lot," he said.
The Prime Minister said that India has ignited "new hope" and "new excitement" because of its democratic values and the government's mantra of 'sabka sath, sabka vikas'.
He said the World Bank and all the rating agencies say that the economic development in India has generated a "ray of hope" and some say India is a "bright star".
At the brief event which saw 'Bharat Mata Ki Jai' slogan
being chanted by some in the audience, Modi said one of the reasons for the country's economic progress is the political stability.
He noted that India now has a government with full majority after 30 years.
He said India's youth is the country's strength.
"The world needs a workforce that is talented and well versed with technology," the Prime Minister said, adding India is making strides in agriculture, industry and services sector.
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