'Gift City has a vision for India's future, PM Modi said - Record FDI coming in the country, new opportunities arising from investment
Ahmedabad. Prime Minister Narendra Modi on Friday launched the India International Bullion Exchange (IIBX) in Gandhinagar. Many BJP officials including Chief Minister Bhupendra Patel, and Finance Minister Nirmala Sitharaman were present on the occasion. Meanwhile, Prime Minister Modi said that today, this day is very important, an important day for India's growing economic potential, increasing technological capability, and the world's increasing trust in India. At a time when India is celebrating the nectar festival of its independence, then new institutions and new systems of modern India are increasing the pride of India.
He said that today the foundation stone of the headquarters building of the International Financial Services Center Authority (IFSCA) has been laid at GIFT City. I believe, as grand as this building is in its architecture, it will also create unlimited opportunities to make India an economic superpower. He said that India is now standing in line with the countries of the world like the USA, the UK, and Singapore from where global finance is given direction. On this occasion, I extend many congratulations to all of you and all the countrymen.
India's future vision
The Prime Minister said that the aspirations of the common man of the country are linked to the vision of GIFT City. In GIFT City, the vision of India's future is associated, and the dreams of India's golden past are also associated. He said that when I envisioned GIFT City, it was not just limited to trade, business, or economic activities. The aspirations of the common man of the country are attached to the vision of GIFT City. In GIFT City, the vision of India's future is associated, and the dreams of India's golden past are also associated.
He said that GIFT City is making a strong identity as a hub of trade and technology. GIFT City celebrates both Wealth and Wisdom. I am also happy to see that through GIFT City, India is moving ahead with a strong stake in the service sector globally.
PM mentioned the recession of 2008
Prime Minister Modi said that 2008 was a period of global economic slowdown. Unfortunately in India also there was an atmosphere of policy paralysis at that time. At that time Gujarat was taking new and big steps in terms of Fintech. I'm glad that idea has gone so far today. He said that we have to remember that a vibrant fintech sector does not mean just an easy business environment, reforms, and regulations. It is also a medium to give a better life and new opportunities to professionals working in different fields.
He said that another special feature of GIFT City is that it is a major pillar of the Tricity approach. Ahmedabad, Gandhinagar, and GIFT City are just 30 minutes away from each other and all three have their own special identity. Also said that Ahmedabad boasts of glorious history in itself. Gandhinagar is the center of administration, policy, and decisions. Whereas GIFT City is the main center of the economy.
Prime Minister Modi said that today India is one of the largest economies in the world. So in the future when our economy will be bigger than it is today, we have to prepare for it now. For this, we need institutions that can fulfill our today and future role in the global economy. India International Bullion Exchange is a step in this direction. The love of the people of India for gold is not hidden from anyone. Gold has been the medium of economic power for women in India
He said that gold has been an equally important part of our society and cultural system because of the special affection of women. This is a big reason why India is a huge market in the field of gold and silver today. India should also be recognized as a market maker The India International Bullion Exchange is an important step in this direction.
He said that today record FDI is coming in India. This investment is creating new opportunities in the country. Fulfilling the aspirations of the youth. It is fueling our industry and increasing our productivity.