Asia is ray of hope for global recovery: Narendra Modi

New Delhi, Mar 13, (LBO) – Prime Minister Narendra Modi said Asia, which is the most dynamic region in the world, brings a ray of hope for global economic recovery.

Mr Modi delivered the opening keynote at the three-day high-level conference in New Delhi themed “Advancing Asia: Investing for the Future.”

The conference is co-hosted by The International Monetary Fund (IMF) and the Government of India. He was addressing a gathering of senior officials, corporate executives, academics, and civil society representatives from more than 30 countries spanning Asia and the Pacific.

Mr Modi said, with three out of every five persons living in Asia, accounting for a third of global output and trade, with 40 percent of global FDI and being the most dynamic region in the world, no doubt, the 21st century will be Asia’s century.

Asia’s habit of prudent and frugal saving and investing habits, sound work ethics, ability to bring social stability built on family and grooming of women leaders across the continent make Asia distinctly different to rest of the world.

Prime Minister Modi put India’s contribution to a historical perspective by citing the propagation of Buddhism throughout Asia, non-violent national freedom movement which catalyzed similar movements in other countries and millennium old history of Maritime trade.

“India has dispelled the myth that democracy and inclusive economic growth cannot go hand in hand,” Mr Modi further stated.

(LBO staffer reporting from New Delhi)