India will get growth back: PM Modi after unlocking begins
What's the story
Prime Minister Narendra Modi is confident India's economy, which suffered immensely due to coronavirus pandemic, will return on track. He passed these remarks on Tuesday while addressing the annual general meeting of the Confederation of Indian Industry (CII). The goal should be to make India self-reliant or aatmanirbhar, he reiterated numerous times. The speech came a day after India's unlocking began on Monday.
Speech
"Coronavirus slowed growth but India has left lockdown behind"
At the outset of his speech, PM Modi said he trusted India's entrepreneurs, farmers, and MSMEs, adding that the steps the government took for them will help the economy. He noted that coronavirus slowed the pace, but India has left lockdown behind and entered unlocking phases yesterday itself. "So in a way, we have already started getting our growth back," he said.
Challenge
Pandemic posed twin challenges — saving lives and economy
If one were to compare India with other countries, the situation here is much better, PM Modi claimed. "We need to take care of the economy as well as save the lives of people from coronavirus. In this situation, CII has prioritized getting growth back, which is commendable," he said. The theme of the annual session was "Getting Growth Back".
Reforms
Government believes in futuristic, not scattered reforms: PM Modi
According to PM Modi, the five Is which will help India regain its place are Intent, Inclusion, Investment, Infrastructure, and Innovation. He said the government stands by businesses, farmers, and is working towards reforms that are not just "random and scattered" but "are systemic, planned, integrated, inter-connected and futuristic". He said over Rs. 53,000 crore assistance was given for free ration to the poor.
Quote
You take one step, I'll take four: PM Modi
"I will be with you. You take a step, I will take four steps. Aatmanirbhar Bharat doesn't mean we will depend on anybody for strategic sectors. It's about creating strong enterprise in India," he added.
What he said
"Made in India for the world" must be the mantra
PM Modi also came up for an acronym for CII — Champions of Indian Inspirations. He said India needs to make products for the world. As an example, he said India imports 30% of its AC requirements which should be reduced. "We have to invest in the creation of a local supply chain that strengthens India's stake in the global supply chain," he added.
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The world has new expectations from India, he added
"The world's expectations from India has increased. India helped over 150 countries with medical supplies during the coronavirus crisis. The world is looking for a trusted, reliable partner. India has the potential, strength, and ability," he went on.