Modi confident of getting growth back; says onus now on industry

Sandeep Dikshit

Tribune News Service

New Delhi, June 2

Prime Minister Narendra Modi on Tuesday expressed confidence that India will revert to the high economic growth path if industrialists took advantage of the Rs 20-lakh crore fiscal support package and the opening up of several strategic sectors.

‘Made in India’ must be ‘Made for world’

The country needs to focus on 5 Is — intent, inclusion, investment, infra and innovation. We must create ‘made in India’ products that are ‘made for the world’. — Narendra Modi

Asking the industry to rise to the occasion, the Prime Minister recounted all the elements of the Covid stimulus package to make the point that the government has laid out a clear path for it to grow.

“All possibilities are open. All opportunities are waiting for you,” he said while laying out the government’s economic roadmap at the annual session of the Confederation of Indian Industry (CII).

The Indian industry must take full advantage of global perception about India being a trusted and reliable partner that was recently underlined by exports of HCQ tablets to over 100 countries, the PM said. The Indian economy is ready for take-off for a growth-oriented future, he said, combating criticism about reforms being random and scattered.

“The reforms are systematic, planned, integrated, interconnected and futuristic. For us, reforms mean the courage to take a decision and take it to its logical conclusion,” the PM said, offering to carry out more radical reforms to enlarge the space for the private sector to operate.

“But it is now your responsibility to ensure that trust, quality and competitiveness are all associated with products that are manufactured in India,” he said, explaining that the end goal of Atma-nirbhar Bharat was to invest in robust, local supply chains that strengthen India’s share in global supply chains.

For the first-time ever, the private sector has been allowed to enter strategic sectors such as space and atomic energy to ensure that India does not have to seek external help in critical areas. “Yes, we will get our growth back. India will get its growth back,” the PM declared.