Indian Prime Minister Narendra Modi encouraged global companies to invest in India and reiterated his call for a “self-sustaining and self-generating” economy in his opening address at India Global Week 2020.
In keeping with the theme of the virtual three-day summit organised by UK-based India Inc Group, PM Modi highlighted India’s convalescence in the aftermath of the COVID-19 pandemic and stated that the nation was “set to play a leading role in the post-COVID revival” thanks to India’s talented manpower.
“World over, you have seen the contribution of India’s talent force. This includes our talented professionals; doctor, nurses, bankers, lawyers, scientists, professors and our hardworking labourers. India is a powerhouse of talent that is eager to contribute and ever-ready to learn,” he said.
Talking about India’s ability to reform and rejuvenate, the PM said India has a history of overcoming social and economic challenges and said the nation was looking to recover from the COVID-19 crisis.
“India is fighting a strong battle against the global pandemic focussed equally on people’s health and the health of the global economy. In India we are already seeing green shoots when it comes to economic recovery,” he said.
Modi asserted that his government’s goal was to make the “economy more productive, investment-friendly and competitive”. He touched upon the theme of Atma Nirbhar Bharat (self-reliant India), stating that India’s policy was about merging domestic production and consumption with global supply chains.
“Atma Nirbhar Bharat is not about being self-contained or being closed to the world. It is about being self-sustaining and self-generating,” Modi said, inviting global companies to come and establish their presence in India across various sectors, from agriculture, MSMEs, tech, startup, space and defence, among others.
“There are many possibilities and various opportunities in many sunrise sectors in India,” Modi said.
The PM also praised the Indian pharma sector’s role in fighting the pandemic, citing its role in reducing the cost of medicines, especially in developing nations.
The three-day India Global Week 2020 event will see participation from several industry captains and global thought leaders, with 250 speakers addressing an expected virtual audience of over 5,000.