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India’s economy is picking up pace once again: PM Modi at CII annual meet

PM Modi CII Annual Meeting 2021: Speaking on the occasion, PM Modi said, "There was a time when we thought whatever was foreign was better. But that is fast changing. We now want products made in India."

PM Narendra ModiPrime Minister Narendra Modi addressing the Confederation of Indian Industry (CII) annual meeting on Wednesday. (Source: Narendra Modi/ YouTube screengrab)

Delivering the virtual keynote address at the Confederation of Indian Industry meeting on Wednesday, Prime Minister Narendra Modi said India’s economy is picking up pace once again and there is a newfound confidence in made-in-India initiatives.

PM Modi said, “There was a time when we thought whatever was foreign was better. But that is fast changing. We now want products made in India. This is a big shot in the arm for our Atmanirbhar Bharat initiative. The other thing which is important now is our confidence which we also saw in our performance in the Olympics.”

Hailing the spirit of “new India”, he said, “This new India is ready and committed to growing with the new world. India, which was once apprehensive of foreign investment, is today welcoming all types of investments. India is taking major leaps. It is the result of the country’s faith in our industry that today the ease of doing business and the ease of living is increasing. The changes made in the Companies Act are a big example of this.”

He added, “This is a new India which is prepared to move ahead on its own. This new India in ready to walk along with the new world. These days, when the youths of the country take up risks, they are not afraid. They want to engage in hard work, take risks and get results. Among the youths, we are seeing a ‘Yes we belong to this place’ attitude and a similar self-confidence can be seen among the startups in India. Our country has also jumped ahead in the ease of doing business.”

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Lauding industry initiatives, he said, “Starting from making masks and vaccination initiatives, our industries have helped us with everything during this pandemic. This industry is a big part of India’s growth story. India’s economy is gathering pace once again. We have seen reports stating that the IT sector is doing very well. This is because of our digitisation initiative.”

He added, “This occasion is special because it comes on the 75th year of our independence. I want to tell everyone here — the government is with you and will help you with everything you need…The country today has such a government that is willing to take big risks for the benefit of the country. GST was not applied in India before because the erstwhile government did not have the guts to take up a political risk. We not only implemented GST but also are we seeing a record GST collection today.”

First published on: 11-08-2021 at 17:06 IST
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