India is poised to contribute as new engine of global growth: Modi

Prime Minister Narendra Modi has said that India is poised to contribute as new engine of global growth. Addressing the US-India Business Council in Washington, he said the world needs a new engine of growth and a larger Indian economy has multiple benefits for the globe. The Prime Minister said, India has emerged as one of the fastest growing economies in the world. He urged American businessmen to invest in India and set-up efficient manufacturing units. Mr. Modi said the BJP-led Indian government at the Centre has taken several steps to prevent corruption and facilitate ease of doing business in



India.

Saying that the government is committed to continue opening up the defence sector, Mr. Modi said his government has taken major steps to ensure greater accountability in banking sector. He said many social security schemes have been introduced for the betterment of people which include accident insurance scheme, life insurance scheme and Pradhan Mantri Mudra Yojana were 70 per cent of beneficiaries are women.