Prime Minister Narendra Modi HIGHLIGHTS: In his inaugural address at the India Global Week 2020, PM Narendra Modi said that the government is equally focused about the health of economy and health of people even as coronavirus pandemic continues to take toll. Recounting the steps taken by the government so far to revive Indian economy, PM said that there are opportunities in India’s sunrise industries and we are opening our doors to global investors. “India awaits you all,” he said, adding that the country 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,” PM Narendra Modi said. The event is expected to be attended by 5,000 participants from over 30 nations and is pitched as one of the biggest international events on India’s globalization. The three-day event will be held virtually in the wake of coronavirus pandemic and is themed “Be The Revival : India and a Better New World”. “This forum brings together global thought leaders and captains of industry, who will discuss aspects relating to opportunities in India as well as the global economic revival post-COVID,” Prime Minister tweeted a few hours before. As the country imposed a nationwide lockdown in the wake of coronavirus, economic activities came to a grinding halt with major ratings agencies downgrading their India outlook. Reviving economy is now one of the key agendas of the government.
PM address HIGHLIGHTS: India to play leading role in global economic revival; has massive growth opportunity
Prime Minister Narendra Modi HIGHLIGHTS: PM Modi said that India will play a major role in global economic recovery and the country presents massive opportunities.
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Modi said that the government is making every effort that labourers don't have to take loans during the Corona pandemic and don't have to spread hands in front of anyone. Modi said that the mapping of the skills of all workers has been started in the village itself. This will help them get work according to their skills.
There are many local products available in various states and districts such as makhana in Bihar, amla and mango in Uttar Pradesh, chilli in Madhya Pradesh while Odisha and Jharkhand have forest produce, said Modi. There are many such local products in every district with which the associated industries are planned to be installed nearby, he added.
This self-esteem will be secured by Garib Kalyan Rojgaar campaign while villages will also be developed by the hard work of labourers, said Modi. The Prime Minister asserted for necessary precautions to be taken while leaving for work. "Do not forget to follow the rule of applying the mask, wearing a towel or face with a cloth, hygiene, and distance of two yards," Modi said earlier.
Rating agency Moody’s downgraded India’s foreign currency and local currency long term issuer ratings to Baa3 from Baa2, while maintaining a negative outlook, citing prolonged period of low growth and further deterioration in the government’s fiscal position.
"Our reforms in agriculture provide a very attractive investment opportunity to invest in storage and logistics," Modi said.
"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," Modi said while addressing the India Global Week 2020.
PM said that in these times when the world is battling the COVID-19 pandemic, it is natural to talk about revival and there is faith that the story of global revival will have India playing a leading role.
Prime Minister Narendra Modi on Thursday said Indian economy has started seeing "green shoots" of recovery and that the country remains one of the most open economies in the world.
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 #COVID19 vaccine: Prime Minister Narendra Modi at India Global Week 2020
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: PM Narendra Modi at India Global Week 2020
India is ready to do whatever it can to further global good and prosperity. This is an India that is reforming, performing and transforming: PM
Equally focused about health of people and health of economy, says PM.
Indians are natural reformers, India has ability to reform and rejuvenate, says PM.
India is a powerhouse of talent, says PM Modi, and it is eager to contribute.
India to play major role in Global Economic recovery, says PM.
"It is natural to talk about revival in these times," PM said. He added that it is equally natural to link global economy and India.
"It is natural to talk about revival in these times," PM said. Bringing economy on track is one of the major agendas for the government as economy has been derailed amid coronavirus pandemic.
This is an India presenting economic opportunities; India awaits you all, PM Modi said.
Namaste has gone global during pandemic, PM Modi said. There is an interest in Indian ethos as well.
Atma Nirbhar Bharat is about self sustainance, self-generation, PM said.
PM Modi has started his inaugural address at the India Global Week 2020. He has recounted the steps taken by the government so far to revive Indian economy. There are opportunities in India's sunrise industries and we are opening our doors to global investors.
PM Modi to soon begin speech at India Global Week 2020.
"...considering corona’s death rate, India is comparatively in a better position compared to many countries of the world. Timely imposition of lockdown and other decisions have saved lakhs of lives. But we have also seen that since Unlock-One, there is increasing negligence in personal and social behaviour. Earlier, we were very careful with respect to wearing of masks, social distancing and washing of hands for 20 seconds. But today, when we need to be more careful, increasing negligence is a cause of worry," PM Modi said earlier.
PM Modi said that people's will to survive and strength will be key to survive the challenges the country is facing at the time. "Tough times have only one remedy -- strength", he said.
Amid many challenges that the country is facing, PM Modi reiterated his dream for self reliant India and said that Indians must now work to turn the crises at hand into an opportunity.
PM Modi said that the govt has reformed many sectors, it is now time for indsutry and youth to come forward and take benefit of those reforms.
PM Modi called on the industry to rise to the occasion and asked it to cut down heavily on exports and focus on Make In India.
PM Modi recently addressed a CII event as well in which he said that government’s highest priority is to strengthen the economy and while coronavirus may have slowed down growth, India is poised to get it back.
In his earlier address at the Indian Chamber of Commerce’s 95th Annual Plenary session, PM Modi said that India is currently challenging multiple challenges at a time as India has recently not only seen the outbreak of coronavirus but other natural calamities such as cyclones, earthquakes etc.
In April, the International Monetary Fund had projected India's growth rate at 1.9 per cent for 2020. The global economy, it said, is likely to shrink by 3 per cent. India will bounce back in 2021 with a robust six per cent growth rate, eh IMF has said.
The UK's foreign secretary Dominic Raab, home secretary Priti Patel, and US Ambassador to India Ken Juster are some of the other participants to the event.
The event will also feature a "never-seen-before performance" on 'Aatma Nirbhar Bharat' by Madhu Nataraj and a special 100th birth anniversary concert in tribute to sitar maestro Ravi Shankar by three of his most eminent students.
Those participating in the event include External Affairs Minister S Jaishankar, Commerce and Railway Minister Piyush Goyal, Jammu and Kashmir Lt Governor G C Murmu, Isha Foundation founder Sadhguru Jaggi Vasudev, and spiritual leader Sri Sri Ravi Shankar, the PMO statement said.
Themed 'Be The Revival: India and a Better New World', the event will have 5,000 global participants from 30 nations and it will be addressed by 250 global speakers in 75 sessions.
It is likely that PM will discuss ways to boost the virus-hit economy as he has done in his past few addresses as well.
“This forum brings together global thought leaders and captains of industry, who will discuss aspects relating to opportunities in India as well as the global economic revival post-COVID,” Prime Minister tweeted a few hours before.
PM Modi will today deliver the inaugural address for the India Global Week 2020 at 1.30 PM. The event will be attended by 5,000 participants from over 30 nations.