India will definitely get its economic growth back: PM Narendra Modi

Modi said he is so optimist about getting the economy back on track because he has confidence on the farmers, small businesses and entrepreneurs, innovators and researchers.

New Delhi: Prime Minister Narendra Modi on Tuesday exuded confidence that India will definitely get its economic growth back.

"Yes, we will definitely get our growth back," he asserted.

Speaking at industry association CII's annual session, he said the government has taken tough steps to fight the coronavirus pandemic and has also taken care of the economy.

“India has left the lockdown behind. Large part of the economy has opened up in Unlock Phase 1 and more parts will open up from June 8,” said PM Modi.

The PM said that we have double task for making the economy resilient and also focus on the well-being of the people.

"On the one hand we have to safe lives of our people and on the other hand we have to stabilise the economy and speed up the economy," he said.

He said he is so optimist about getting the economy back on track because he has confidence on the farmers, small businesses and entrepreneurs, innovators and researchers.

"Corona may have slowed our speed (of growth) but India has now moved ahead from lockdown with the phase one of unlock. Unlock Phase-1 has reopened a large part of the economy," he said.

Modi also highlighted 5 I for getting back to the growth path -- intent, inclusion, investment, infrastructure and innovation.

"For us, reforms are not any random or scattered decisions. For us reforms are systemic, planned, integrated, inter-connected and futuristic process," he said, adding that for the government, reforms mean “courage to take decisions and taking them to logical conclusion."

This is the PM’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 assumes significance 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.