India has become the Global Economy Shaper

Gandhinagar: Prime Minister Narendra Modi congratulated the people of India by saying that India is now one of the countries that shape the global economy like the United States, United Kingdom and Singapore. The Prime Minister was speaking at a program organised by ‘Gujarat International Finance Tech-GIFT’ near Gandhinagar, Gujarat. The Prime Minister inaugurated the ‘International Financial Services Center Authorities-IFSCA’ and the ‘India International Bullion Exchange-IIBX’ on this occasion. On this occasion, the Prime Minister realised that while India’s position in the global economy is rising, such institutions are vital for the country.

Moreover, India has emerged as one of the largest economies in the world. India’s economy will become much bigger in the future than it is now. It is imperative to prepare for the same time now. The Prime Minister further said that such institutions are urgently needed to clarify India’s present and future role in the global economy. ‘Gujarat International Finance Tech-GIFT,’ i.e. Gift City, is a step taken with the future in mind. The Prime Minister reminded that this initiative was taken up to make it a centre of economy and technology.

Along with this, the Prime Minister claimed that the three institutions, namely ‘International Financial Services Center Authorities-IFSCA’ and ‘India International Bullion Exchange-IIBX’ and ‘National Stock Exchange-NSA’, will connect the country more effectively with the global economy. On this occasion, the Prime Minister expressed the hope that the identity of India should not be limited to a large market but that India should come forward as a market developing country. IFSCA should compete with Dubai and Singapore in terms of service and rates. On this occasion, the Prime Minister said that we should set the goal of leading the world in this field before ourselves.

Furthermore, Gold is a major source of financial power for Indian women. Due to this, Gold is given great importance in society and the cultural system. But India should not be known only as the biggest buyer of Gold. So India should become a developing country for the gold market. ‘IIBX’ will fulfil this expectation. This will make transactions in Gold more transparent. This will allow India to set the gold rate. The Prime Minister expressed his belief that this will not impact the whole world.

Whatever happens in India in the future will impact the world and give direction to the world. Due to the past several years of slavery, India had not connected itself with the global economy. But now the situation has changed. In the jubilee year of Independence, a confident India connects with the global economy. At the same time, India is giving importance to its local aspirations and international cooperation. The Prime Minister assured that the process of globalisation would be used for the country’s development.