India will play a leading role in global revival, says PM Narendra Modi

Modi said that the government is laying a red carpet for all global companies to come and establish their presence in India.

New Delhi: Prime Minister Narendra Modi on Thursday said that India will play a leading role in global revival.

Delivering the inaugural address on Day 1 of India Global Week 2020 virtual conference, the PM said, “In these times, it is natural to talk about revival. It is equally natural to link global revival and India. There is faith that the story of global revival will have India playing a leading role.”

Modi highlighted two factors for India’s contribution in the global revival. The first is Indian talent and the second being India's ability to “reform and rejuvenate”.

“World over, you have seen the contribution of India's talent-force. Who can forget the Indian tech  industry and tech professionals!  They have been showing the way for decades. India is a power-house of talent that is eager to contribute. Indians are natural reformers!  History has shown that India has overcome every challenge, be it social or economic,” the PM added.

Modi said that the government is committed in its resolve to bring the economic growth back to track.

“On one hand India is fighting a strong battle against the global pandemic. With an increased focus on people's health, we are equally focussed on the health of the economy,” PM Modi said.

He added, “When India talks of revival it is:  Revival with care, Revival with compassion, Revival which is sustainable- both for the environment and the economy.”

Modi said that in the last six years, India has made great gains in areas such as: total financial inclusion, record housing and infra construction, Ease of Doing Business, bold tax reforms including the GST.

“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,” he said.

The PM further 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 opportunites India does today,” he added.

Modi praised India's Pharma industry for the role it has played during the COVID-19 pandemic.

“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,” Modi said.