Prime Minister Narendra Modi on Tuesday asked the Indian industry to take ‘big steps’ to take advantage of global opportunities at a time when the world is looking at India as a trusted partner that can produce quality items.
Addressing a webinar on regulatory, investment and business ease after the budget, Modi said that the world today needs a reliable partner who can create a high quality products and the supply chain is reliable amidst the disruption in the supply of supplies due to economic uncertainties at the global level.
Modi told the industry, “Our country is capable of doing this, you are all capable, this is a big opportunity for us. I want our industry not to see these expectations of the world just as viewers. We cannot live as viewers, you have to find your role in it, you have to find opportunities for yourself. “
The Prime Minister said that the government has been working closely with the industry for the last 10 years and has shown its commitment to reforms, financial discipline, transparency and inclusive development.
The Prime Minister said, “Today India is the engine of growth for the global economy. India has proved its strength even in difficult times … Today every country wants to strengthen its economic participation with India. Our manufacturing sector should take advantage of this opportunity. “
Modi said that the industry has got new confidence due to the government’s continuity and trust in reforms.
Modi said, “I want to assure the stakeholders of manufacturing and export sector that it will continue in the coming years. I urge you to move forward with confidence and take big steps. New avenues have been opened for the country’s manufacturing and export sector. ”
Modi emphasized that India’s manufacturing is the backbone of industrial growth. He asked the stakeholders to identify new products which are demanded in the world and which can be managed in India. They can then be prepared for export.
On the role of Research and Development (R&D), the Prime Minister said that the industry should focus on manufacturing new products and promote price through R&D.
Modi said, “The world knows our ability in toy, shoes and labor -oriented areas. Success can be achieved by combining traditional crafts with modern technology. We can become a global ‘champion’ in these areas and increase exports manifold. This will also create employment opportunities in labor -intensive areas and entrepreneurship. ” He said that at a time when the world is going through geopolitical uncertainties, India is being seen as a ‘center of growth’.
Inspiring the states to adopt business ease reforms, the Prime Minister said that the states have an important role in increasing investment. The states will bring more investment by furthering the improvement of improvement improvements by the states. He said, “States should compete among themselves … The states that will come forward with progressive policies, companies will consider them an attractive destination for investment.”
