The Fourth Industrial Revlution will supplement India's goal to become self-reliant, PM Narendra Modi said during his special address at World Economic Forum's Davos Agenda Summit. He assured that India has taken several reforms in the past that have made tax structure predictable and friendly.
Talking about the 'Atmanirbhar Bharat' intitiative, PM Modi said India's efforts to become self-reliant will help also help the global supply chains.
Emphasising on India's handling of the coronavirus vaccine, PM Modi said that the country's efforts have resulted in mankind's benefit. He said that while only two Made-in-India vaccines have been approved as of yet, many more will be rolled out soon, aiding the global offensive against the pandemic.
Following his address, PM Modi also interated with corporate leaders from India and around the world.
Follow LIVE updates from PM Modi's address at Davos Agenda Summit:
6:36 pm: Metro network, electric mobility are glimpses of how Indian cities will look like in future. This is an initiative full of prospects. For those with expertise in this field, this is a very big opportunity, says PM Modi.
6:33 pm: India plans to invest more in technologies like AI. We are also working on a strong law for data protection, says PM Modi.
6:20 pm: It is important that country and industry focus on infrastructure, says PM Modi.
6:11 pm: To boost manufacturing in India, government has taken a lot of steps, says PM Modi.
6:03 pm: "Industrial Revolution 4.0 is not meant for robots, but humans, says PM Modi. It should become a tool for ease of living, not a trap," says PM Modi.
6:00 pm: "Structural reforms are being supplemented by production-linked schemes. In India, from tax regime to tax norms, all are in a predictable and friendly manner," says PM Modi.
5:59 pm: 'Atmanirbhar Bharat' initiative is committed to boost global supply chains, says PM Modi.
5:54 pm: Experts list four main factors of Industrial Revolution 4.0 - connectivity, automation, AI and ML, and real-time data, says PM Modi.
5:53 pm: India is moving forward with the goal to become self-reliant and this venture will benefit from Industrial Revolution 4.0, says PM Modi.
5:45 pm: Situation on the economic front will also change rapidly, says PM Modi.
5:45 pm: Only two Made-in-India COVID-19 vaccines have been released so far, but many more will be released soon, says PM Modi.
5:40 pm: India is sending COVID-19 vaccines and strengthening vaccination infrastructure in many countries, says PM Modi.