Prime Minister Narendra Modi on July 9 invited the world to invest in India, saying the economy here is already "putting up green shoots of recovery". PM Modi was addressing the inaugural event at the India Global Week 2020, pitched as one of the biggest international events on India's globalisation. “We are rolling out a red carpet for all global companies to come and establish their presence in India. Very few countries will offer the kind of opportunities India does today,” said PM Modi. The three-day virtual event, themed "Be The Revival: India and a Better New World" is expected to discuss ways to boost the world economy, which sustained a huge hit following the COVID-19 induced lockdown. Earlier this week, the World Bank had predicted that the global economy will shrink by 5.2 per cent this year, the steepest downturn since the Great Depression of the 1930s. India's growth rate for 2020 will be 1.9 per cent, the International Monetary Fund said in April. PM Modi said reforms have been made in the sector of Micro, Small and Medium Enterprises, which will complement big industry, highlighting the recent loan initiative to boost the flagging MSME sector, which has been hit hard by the lockdown. Prime Minister Modi said India is ready to do whatever it can to further global good and prosperity.