Friday, July 1st, 2022 22:13:09

India’s economic growth is picking up pace again & domestic industry needs to enhance its risk taking appetite: PM Modi

Updated: August 12, 2021 11:51 am

Prime Minister Narendra Modi has said India’s economic growth is picking up pace again and domestic industry needs to enhance its risk taking appetite. The Prime Minister was addressing the Confederation of Indian Industry (CII) Annual Meeting last evening through video conferencing.

The Prime Minister added when the country is set to celebrate Azadi ka Amrit Mahotsav, the vision to realise the dream of building an Aatma Nirbhar Bharat also lies on the shoulders of the industry leaders.

Further the Prime Minister said even during such unprecedented times of COVID-19, the country is witnessing how the industry and the government can work hand-in-hand.

Speaking at the event he said, India which was once apprehensive of foreign investment is today welcoming every type of investment. He said, India is receiving a record FDI because of the reforms done in the last few years.

The Prime Minister said, during the Monsoon Session of Parliament, many important Bills were passed. He said, the Factoring Regulation (Amendment) Bill will help small businesses get credit facilities.

He said, the agriculture sector was once considered to be just a medium of livelihood. But now, efforts are being made to connect Indian farmers with the domestic and global markets through historic reforms in the agriculture sector.

The Prime Minister said, the Government not only implemented GST but today the country is witnessing record GST collection. He said, by rectifying the mistakes of the past, the government did away with the Retrospective Taxation. The Prime Minister said, the initiative will strengthen the trust between the government and the Industry.

The theme of the meeting is India@75: Government and Business working together for Atmanirbhar Bharat. The CII Annual Meeting 2021 will be held over two days. Singapore’s Deputy Prime Minister and Coordinating Minister for Economic Policies, Heng Swee Keat will address as the Special International Guest Speaker. The event will also have the participation of many Ministers, senior officials, academics and prominent representatives of Indian industry.

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