Telangana Chief Minister K. Chandrasekhar Rao addressing the World Economic Forum’s annual meet of the new champions-2015 at Dalian, China on Wednesday, said that while other economies across the world could be facing economic slump, India is soaring towards growth.
The Chief Minister further added that slump in oil prices has boosted growth in India which is one of the biggest importer of oil.
Mr. Rao also said, “Economies of other countries are at crossroads. But India is not in such a situation. Indian government is on the path of reforms and we are moving at a great speed.” He was speaking on the panel, “Emerging markets at cross roads”. Praising Prime Minister Narendra Modi, he said that “he is leading the country in the path of reform. India is a consuming and exporting market and we are stable and continue to grow.” Though Telangana was the youngest State in the country, its industrial policy was one of the best in the country, the Chief Minister said while appraising the gathering of world industrialists.
“We have made it a right of the investor to get clearances within the stipulated time of two weeks,” he said.
The Chief Minister also said that China’s economic development model could be copied by other nations. “Thirty years ago there was a different China and now there is a different and better one with a good growth rate,” he said to the audience.
India’s focus was on inclusive growth so that even economically backward people too were included in the benefits of development, the Chief Minister said.
“In my State, I have started a two-bedroom house scheme for the vulnerable and disadvantaged community. We are also spending on providing drinking water and creating infrastructure in the city of Hyderabad,” he said.
He welcomed businesses from across the world to invest in India and Telangana.