India can become a pillar of global growth and stability: PM

Projecting India as a pillar of global economic stability, Prime Minister Narendra Modi today said bold reforms has helped the country to clock 7.5 per cent growth that will improve further in coming years.
"Through bold economic and governance reforms, we have achieved a growth rate of nearly 7.5 per cent with strong prospects for a higher growth rate in the near future.
"Given our size and scale, India can become a pillar of global growth and stability," he told heads of world 20 leading economies.
In his lead intervention at G20 Working Lunch on Development and Climate Change, Modi said India has the world's largest financial inclusion programme and has "definite target dates" for meeting people's all basic needs.

He said India is promoting growth and investing in skills to create employment for the youth. The country is also increasing the pace and quality of infrastructure expansion, and investing in making far more productive and resilient.
Referring to the Sustainable Development Goals, Modi said India's development goals are aligned with the SDGs.

The SDGs are comprehensive set of goals that places complete elimination of poverty in the world by 2030 as its top goal. And, it creates the right balance between growth, development, human welfare and environment, he added.
"G20 must align itself with the SDGs. In doing so, we will also stimulate faster and a more broad-based economic growth," the Prime Minister said.

In the past one year, the Indian government has announced a host of measures to improve ease of doing business, to streamline taxation and to further liberalise the FDI policy, among other steps.