A frozen economy has not dimmed India’s interest in Davos.

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“The people and youth of India are now. It is ready to contribute to economic creation. In the year 5 trillion dollars by 2025,” he said in a speech at the 2018 World Economic Forum (WEF).

“Not only that, but innovation and entrepreneurship… when you help (individuals) move from job-seeking to job-creating, then you can imagine the number of avenues that open up for your country and your business,” Modi added.

It is fair to say that hitting the target proved difficult.

The Indian economy is expected to remain close 4.27 trillion dollars according to the International Monetary Fund This year, it is $0.73 trillion short of Modi’s target.

Its economic slowdown has raised questions about the country’s lofty growth goals. Market watchers argue that India is now in a cyclical slowdown.

What’s surprising is that India’s story – and its potential for growth – continues to attract investors from India, Davos and beyond.

Among them is India. Top five regions Global CEOs polled by consulting firm PwC are looking to invest in the next 12 months. Among the 4,700 CEOs selected in 109 countries, the other states that took the top 5 were the US, the UK, Germany and mainland China.

Optimism about India is widespread in the ongoing discussion at Davos.

Khaldon Al Mubarak, managing director and group executive of Mubadala Investment Company, described India as “a very, very interesting country (and) a very interesting market” in an interview with CNBC.

Among the salient parameters of India’s potential is its large, yet young demographic. About 480 million Indians are under the age of 18 – more than the population of the United States, the population of Europe combined, the people of the Middle East and also the population of South America, Mubarak said.

“We’ve invested in India … for years, and we’re going to continue to work on building our portfolio in India and really getting into the wave that’s started,” he said.

This cycle “continues in my view,” he added.

Mubadala’s investments include Tata Power Renewable Energy, owned by the Tata Group in India, and dependent industries-Supported technology giant Jio platforms.

Process is another investment company looking to cash in on India’s growth, particularly the country’s technology industry.

“They’ve seen the impact of technology in India … and they’re saying, ‘We’re ready for the next step,'” company CEO Fabrizio Bloisi told CNBC on the sidelines of the meeting.

“Process is ready to invest a lot, a lot more in India. We have invested like 8 billion dollars in the last few years and we will invest a lot more,” he said.

Indian startups Process has invested in food delivery firm Swiggy, edtech firm BYJU’s, agritech player Dehaat and e-commerce platform Meesho.

It’s getting big on technology.

The demand in India – particularly the opportunities in the technology and startup space – coincides with the government’s broader focus on growing the sector.

One of the key issues the Indian delegation brought to Davos this year was the strengthening of the semiconductor industry through government incentives and targets.

This will include exploring the development of its own graphics processing unit (GPU) over the next three to five years, said Ashwini Vaishnav, Minister for Railways, Information Technology and Information and Broadcasting. He told CNBC-TV18 at the WEF meeting.

Among other projects he revealed, India plans to develop 25 indigenous chipsets. Designed and manufactured in the country. It expects to release the first chip in September and the first fab in 2026.

Vaishnaw outlined the government’s goal of providing 1,000 GPUs, especially for startups that don’t have access.

This is the government’s focus on talent development and data empowerment this year to create robust data sets to train AI models, he said.

Vaishnaw led India’s largest delegation to Davos this year, including one each from Andhra Pradesh, Telangana, Karnataka, Kerala, Tamil Nadu, Maharashtra, West Bengal and Uttar Pradesh. Compete for investment For the motivation to come.

For example, Andhra Pradesh Chief Minister Chandrababu Naidu It is said to have demonstrated the business friendly policies of the state. Hoping like multinationals Unilever, PepsiCoGoogle Cloud and AstraZeneca.

Neighboring Telangana, on the other hand, showcased its expertise in electric vehicles, pharmaceuticals and semiconductors. Elsewhere, Maharashtra has reportedly presented itself India’s industrial powerhouse.

The presence of Indian officials in Davos may be a recognition that companies, especially those that have only been around for a few years, need more capital than they can raise domestically.

Dheeraj Nim, foreign exchange strategist and economist at ANZ Bank, said foreign investment into the country was “drying up” due to economic policy uncertainty and geopolitical risks.

One way, he said, is for the Indian government to “enhance greater confidence by reducing political and regulatory costs, improving the ease of doing business in India.”

“Even if global variables are out of control, there are many things India can do. India plans to become a developed country by 2047, so we need stronger growth than the 6-7% we are used to. And there will be growth. It must be realized by realizing additional investments and enhancing labor productivity and technological capabilities.” Nim added.

It is the Indian government’s main concern that India plans to pursue sustainable growth while providing jobs and increasing productivity. At Davos, India’s Minister of Railways, Electronics and Information Broadcasting, Mr. Ashwini Vaishnau sat down to discuss with a group of international executives, investors and Indian entrepreneurs. The breakfast, hosted by Brunswick Group and CNBC alongside the World Economic Forum, allowed executives and investors to ask the minister questions and discuss the state of investment in India.

India may lower its investment target for FY25. The country’s government is waiting. A reduction of 40% – or less than 300 billion rupees ($3.47 billion) – in the financial year 2024 to 2025, The Economic Times reported, citing people familiar with the discussions. Regulatory hurdles and valuation problems have proven to be roadblocks, but Prime Minister Narendra Modi’s administration has sold more stakes in state-run companies than previous governments.

Indian stocks have changed this week Nifty 50 The index decreased by 0.03% this week and closed at 23,205.35 points.