PM Narendra Modi says he is confident that India will get its growth back

Prime Minister Narendra Modi, while addressing Confederation of Indian Industry (CII) Annual Session 2020- “Getting Growth Back” on Tuesday, said that he is confident that India will revive its economy in the coming days. ‘Yes, we will get our growth back,’ PM Modi said, while explaining that he is confident about India’s talent across industries and sectors which will drive this revival.

The prime minister said that online events are becoming the new normal during the coronavirus crisis. He added that this is the biggest strength of humankind – it adapts ways to ensure life is normal. PM Modi underlined that while strict steps are needed to deal with coronavirus, there is also a need to revive the economy.

“Today, on the one hand we've to save lives of our countrymen and on the other hand, we've to stabilize country's economy. In this situation, CII has started the talk of "Getting Growth Back"& I congratulate all the people of Indian industry for this,” PM Modi said.

PM Modi said that India needs to become self-reliant and five factors will play a key role on this - intent, innovation, investment, inclusion and infrastructure. He said that for the government, reforms mean having the courage to take decisions.

“Intent, Inclusion, Investment, Infrastructure and Innovation— these five things are important to speed up India's development and make it 'atmanirbhar'. You will get a glimpse of these in the bold decisions recently taken by us,” PM Modi said.

PM Modi said that being self reliant means that we should not be dependent on others for our needs. He urged enterprises to make products in India, that can be sold around the world. 

“Self-reliant India is about -- Strong enterprises; generating employment; empowering people to come out and find solutions. Now, the need is that we make those products that are made in India, but made for the world. We have to cut our imports. India must not be dependent on others,” the prime minister said. 

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This was PM Modi’s first major speech on the Indian Economy since the announcement of Unlock-1. The virtual online meeting at the annual session of the CII was significant as companies are resuming operations after the government has allowed gradual phasing out of the lockdown.

The CII is an industry association in India and is completing 125 years of its journey this year.