Mark Mobius Praises India’s Yashobhoomi and Economic Growth
Global investor Mark Mobius, founder of Mobius Capital Partners LLP, recently visited India and expressed admiration for the Yashobhoomi convention center in Dwarka, New Delhi. He described it as one of the largest exhibition venues he has seen worldwide. Yashobhoomi, inaugurated by Prime Minister Narendra Modi, cost Rs25,700 crore (USD 3.1 billion) in total, with the first phase alone costing Rs5,400 crore (USD 650 million).
Mobius highlighted the continuous transformation in India, particularly in digitization, and credited Prime Minister Modi’s policies for India’s economic rise. He noted India’s impressive seven percent growth rate, the highest among major economies, and emphasized the importance of a free enterprise system for growth.
Doubts Revealed
Mark Mobius -: Mark Mobius is a well-known global investor who travels around the world to find good places to invest money. He is famous for his knowledge about different countries’ economies.
Yashobhoomi -: Yashobhoomi is a large convention center in New Delhi, India. It is a place where big events, exhibitions, and meetings can be held.
Prime Minister Narendra Modi -: Narendra Modi is the Prime Minister of India. He is the leader of the Indian government and makes important decisions for the country.
Rs25,700 crore -: Rs25,700 crore is a very large amount of money. In India, ‘Rs’ stands for Rupees, which is the currency used in the country. ‘Crore’ is a term used in India to represent ten million.
Digitization -: Digitization means using digital technology to change how things are done. It involves using computers and the internet to make processes faster and more efficient.
Economic Growth -: Economic growth refers to the increase in the amount of goods and services produced by a country. It means the country is getting richer and people might have better jobs and more money.
Free enterprise system -: A free enterprise system is an economic system where businesses are free to compete with each other with little control by the government. It allows people to start their own businesses and make their own economic choices.