India's meteoric rise to global prominence is inevitable. Perhaps, US President Barack Obama, writing in Time Magazine on April 16, puts India's and Prime Minister Narendra Modi's rise to prominence best: "Today, he's the leader of the world's largest democracy, and his life story - from poverty to prime minister - reflects the dynamism and potential of India's rise."

True enough, both Modi's and India's rise to prominence on the global scene has been remarkable. In less than a year since becoming prime minister in May 2014, Modi has put India on the path to becoming a global powerhouse. And Modi has made it to Time's list of the Top 100 Most Influential People.

Christine Lagarde, the managing director of the International Monetary Fund, in an address at Lady Shri Ram College in New Delhi on March 16, highlighted India's rise, saying: "Just as many countries around the world are grappling with low growth, India has been marching in the opposite direction. This year already, India's growth rate is expected to exceed that of China, and by 2030, it is will overtake China as the most populous country in the world."

In fact, the IMF has upgraded India's growth forecast twice in the past year, most recently in April, from 7.2 percent in 2014 to 7.5 percent in calendar year 2015. The global watchdog said growth will come from policy reforms, a consequent pickup in investment and lower oil prices. The government, on the other hand, believes that GDP growth will accelerate by eight percent to 8.5 percent in fiscal 2015-16 that began on April 1.

In fact, some analysts are forecasting double-digit growth rates in the near future, fuelled by government reforms which are proving to be a huge driver among foreign investors who are pumping record levels of money into India.

Last year, foreign private and institutional investments into India reached record levels, with a dramatic increase expected in 2015. Investors from several major developed countries, including the US, China, Japan, France, Germany and Canada have so far committed massive investments in India, largely due to Modi's influence.