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PM Modi at Global Week 2020: 'India seeing green shoots of recovery'

PM Modi said that India remains one of the most open economies in the world. "We are laying 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," he said

twitter-logoBusinessToday.In | July 9, 2020 | Updated 15:01 IST
PM Modi at Global Week 2020: 'India seeing green shoots of recovery'
Prime Minister Narendra Modi speaking at the India Global Week 2020 via a virtual conference / Image: PTI

Prime Minister Narendra Modi on Thursday said that Indian economy has started seeing "green shoots" of recovery and that the countrymen have the spirit to achieve what is believed to be impossible. On one hand, India is fighting a strong battle against the global pandemic with an increased focus on people's health, at the same time the country is equally focussed on the health of the economy, he said while delivering inaugural address at the India Global Week 2020.

At a time when the world is fighting with the COVID-19 pandemic, it is natural to talk about economic revival and link global recovery with India, PM Modi said, adding that there is faith that the story of global revival will have India playing a leading role.

"Indians have the spirit to achieve what is believed to be impossible. No wonder that in India, we are already seeing green-shoots when it comes to economic recovery," said PM Modi while speaking at the event via a virtual conference being organised in the UK.

Over 5,000 global thought leaders from around 30 nations will take part in the three-day event on the theme 'Be the Revival: India and a Better New World'.  

PM Modi said that India remains one of the most open economies in the world. "We are laying 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," he said.

The PM said that India is ready to do whatever it can to further global good and prosperity. "This is an India that is reforming, performing and transforming," he said.

Also Read: PM Modi speech at India Global Week 2020 today -- all you need to know

Talking about Atma Nirbhar Bharat (self-reliant India), the PM said it is not about being self-contained or being closed to the world. It is about being self-sustaining and self-generating.

He said that said that there are many possibilities and opportunities in various sunrise sectors in India. The government has brought reforms in MSME, defence, space and agriculture industries, which provide an attractive investment opportunity to invest in these sectors, he said.

"Our reforms in agriculture provide a very attractive investment opportunity to invest in storage and logistics. We have brought reforms in the MSME sector. A booming MSME sector will also complement big industry. There are investment opportunities in the defence sector," he said.

Also Read: PM Modi lauds Varanasi's corona warriors for helping needy during COVID-19 crisis

On COVID-19 vaccine, Modi said that India will have an important role in developing and scaling up production of the vaccine once it is discovered. "Vaccines made in India are responsible for 2/3rd of the vaccine needs of the world's children. Today also our companies are active in international efforts for development and production of COVID-19 vaccine," he said.

PM Modi said that the pandemic has once again shown that India's pharma industry is an asset not just for India but for the entire world. It has played a leading role in reducing the cost of medicines, especially for developing countries, he added.

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