India a bright spot in the global economy, fastest growing economy in world: PM Modi at summit

Indian Prime Minister Narendra Modi, who inaugurated the four-day-long Vibrant Gujarat summit, was optimistic about the growth potential of the country's economy despite the global slowdown.

The prime minister said creating an enabling environment for business and attracting investments washis top priority. "We have placed the highest emphasis on ease of doing business," he said. "My government is strongly committed to continue the reform of the Indian economy."He also said the total FDI inflows since May 2014 had touched $130 billion, reflecting confidence of foreign investors in Indian economy.

He also emphasised the government's thrust towards the digitisation of the economy and implementing e-governance in a big way. "Believe me, we are on a threshold of becoming the world's most digitised economy," an upbeat Modi said at the summit.

The prime minister also met several delegates from various nations, including CEOs of Fortune 500 companies, on the sidelines of the Vibrant Gujarat Global Summit held in Gandhinagar, the capital of Indian state Gujarat.

The summit, held once every two years, was launched in 2003 by PM Modi while he was chief minister of Gujarat.

Here are the highlights from PM Modi's speech:

• India has become the fastest growing major economy in the world: PM Modi
• Despite the global slow down we have registered excellent growth. India is a bright spot in the global economy: PM Modi
• My government is strongly committed to continue reforms of the Indian economy: PM Modi
• Have placed highest emphasis on ease of doing business: PM Modi
• It is our vision and mission to bring a paradigm shift in our policies and economy: PM Modi
• We are monitoring implementation of hundreds of action points across various sectors, aimed at improving the regulatory framework: PM Modi
• This is part of our promise of good governance: PM Modi
• We have become 6th largest manufacturing country in the world: PM Modi
• Every day, we are further rationalising our policies and procedures, to make it simple for businesses to establish and grow: PM Modi
• We have liberalised our FDI regime in many sectors and in various ways: PM Modi
• India is today among the most open economies: PM Modi
• 'Make in India'has become the biggest brand that India ever had: PM Modi
• We are keen to promote tourism in a big way and this needs tourism infrastructure: PM Modi
• Believe me, we are on a threshold of becoming the world's most digitised economy: PM Modi
• In doing this, digital technology has played a key role. I often say that e-governance is easy and effective governance: PM Modi
• Over last two-and-a-half years, we've also evolved a culture of healthy competition among states, being rated on parameters on good governance: PM Modi
• Gujarat, the land of Mahatma Gandhi and Sardar Vallabhbhai Patel, also represents the business spirit of India: PMModi

(WION with inputs from agencies)