India to be among top three economies by 2030: Rajnath

Union Home Minister Rajnath Singh Monday said India will be among the top three economies of the world by 2030 if it kept up its current pace of growth.

"India today is one of the fastest growing economies. We were at number nine in the list of 10 biggest economies of the world but jumped to the sixth position over the past few years," Singh said while addressing the concluding session of the two-day Investors' Summit here.

"If it goes at this pace India will sure be among the world's three biggest economies by 2030," he added.

Stressing that the time was right for global investors to invest in India, the Union Minister said major structural and procedural reforms were underway in the country under the "credible" leadership of Prime Minister Narendra Modi.

"You will see that the GST will prove to be a boon for the country in the coming times," he said.

Noting that the government's policies can be debated, Rajnath Singh claimed that the "undoubtable credibility" of the prime minister has ensured that despite the fall in the value of rupee against the US dollar, due to a combination of factors, the investors' confidence to invest in the country remains intact.

"The Centre' policies can be debated but the prime minister's intentions cannot be questioned," he said.

On the occasion, the home minister congratulated Uttarakhand Chief Minister Trivendra Singh Rawat for organising the state's first investors summit on a grand scale and said that it heralded the beginning of a new era in the economic development of the hill-state.

Inviting investors to Uttarakhand he said the state had great potential in tourism and wellness sectors and its sound law and order would never give them a chance to complain.

The investors will have a plethora of of opportunities to tap as 1.5 lakh wellness centres are to be set up across the country under Ayushman Bharat Yojana and Uttarakhand is capital of Yoga, Ayurveda and meditation, he said.

"With a renewed interest all over the world in yoga and alternative treatment systems, Uttarakhand holds much in store for investors," he said.

Pointing out that there are no challenges on the law and order front in the state, he said investors can carry out their businesses peacefully.

He further noted that delayed security clearance from the home ministry was a source of headache for investors and assured them that his ministry will grant clearance within 60 days of applying.

Meanwhile, Rawatsaid the investment summit had achieved its objective by attracting investments worth over Rs 1.20 lakh crore.

"We have brought investments worth Rs 1,20,150 crore and a total of 601 MoUs signed with leading firms in different sectors, " the chief minister said.