The Confederation of Indian Industry (CII) has completed its 125 years and to commemorate this event, Prime Minister Narendra Modi was invited today as the chief guest in its Annual Session 2020. Vikram Kirloskar, President, CII said, “The National Conference was happening during a momentous occasion. The prolonged lockdown has dealt a huge blow to growth.” He was confident that Indian Industry would help the country overcome this crisis.
Addressing the members of CII, PM Modi said that India can get its growth back with the help of the industry. Explaining why he was confident about it, he attributed it to his strong belief in India’s capability in crisis management, its technology capability, innovation and intellect, resolve of the farmers, SMEs and entrepreneurs and industry leaders. He added that with this belief we are entering the Unlock Phase 1 which has seen partial opening of many industrial operations and many more will follow after June 8.
He emphasized the strengthening of economy in these turbulent times in order to strengthen the nation. “The world is looking for a trusted, reliable
partner. In India, we have potential, strength and ability. Today, all of you, including all the industries must benefit from the trust that has developed for India all over the world,” he added.
In his address, he stated that the concept of an Atma Nirbhar Bharat rested on 5 I’s - Intent, Inclusion, Investment, Infrastructure and Innovation. He added that the reforms announced have been systematic, planned, integrated, interconnected, and futuristic, and are all about creating strong enterprises, generating employment, robust supply chains. “We have to invest in the creation of a Robust Local Supply Chain that strengthens India’s stake in the Global Supply Chain. In this campaign, a big institution like Confederation of Indian Industry (CII) will also have to come forward in a new role after the pandemic.”
Assuring the youth of new opportunities, he explained that the direction in which the government is moving today, be it our mining sector, energy sector or research and technology, new opportunities will emerge for youth of the country. For reforming agriculture, the Prime Minister highlighted that the Government had amended the APMC Act to allow greater freedom to farmers to sell their products in the market.
He also mentioned that labour reforms were being undertaken to help provide a boost to employment. Investment in non-strategic areas had been opened up for private sector participation. The coal sector was deregulated to attract private sector investment and reduce dependence on imports. Stressing on the need to boost the Make in India – Make for the World campaign, the Prime Minister stated that there were several sectors where we could manufacture in India and reduce dependence on imports.
Giving due importance to the role of MSMEs in the economy, the Prime Minister said that the Government would refrain from floating global tenders for procurement upto Rs. 200 crores, which will allow more MSMEs to take part in these tenders and help realize an Atma Nirbhar Bharat.