"This is India's time...opportunities, income increasing and poverty is reducing": PM Modi

New Delhi: Noting that a time comes in a country's development journey when all conditions are in its favour, Prime Minister Narendra Modi on Thursday said that positive sentiment that exists for India's capability and success in the world did not exist earlier.

Addressing the Times Global Business Summit here, the Prime Minister said that India is a welfare state and the government's priority is that the day-to-day life of common man becomes easy and there is improvement in the quality of his life.

The Prime Minister also took a dig at opposition parties and said "this is a time when our critics are at an all-time low".

"Today there is discussion in every development expert group how India has been transformed in the last 10 years. Such positive sentiment for India's capability was never there earlier. Such positive sentiment for India's success was never there. That's why I had said from the Red Fort, this is the time, this is the time," the Prime Minister said.

" This time period is indeed unprecedented...this is the time when our growth rate is continuously increasing and fiscal deficit is reducing. This is the time when our exports are increasing and the current account deficit is reducing...inflation is in control. This is the time when opportunities and income both are increasing, and poverty is reducing," he added.

The Prime Minister also referred to the theme of the summit. "The theme kept by the Global Business Summit team this time is very significant. Disruption, Development and Diversification are prominently discussed words of our time. In this discussion, everyone agrees, that this is India's time," he said.

The Prime Minister referred to the Davos Summit and said there was a lot of excitement about India.

"This is India's time. The whole world's confidence in India is increasing day by day...In Davos also a lot of excitement could be seen for India," he said.