A day after Moody's downgraded India's credit rating to a notch above junk status on growth concerns, Prime Minister Narendra Modi on Tuesday asserted that the country will definitely get back its economic growth and said reforms undertaken during the lockdown will help the economy in the long-run.
Speaking at CII's Annual Session, PM Modi listed five key things to make India a self-reliant economy. He said that five things are utmost important to make India a self-reliant economy. These are Intent, Inclusion, Investment, Infrastructure and Innovation.
"Intent, Inclusion, Investment, Infrastructure and Innovation-- these five things are important to speed up India's development and make it 'atmanirbhar'. You will get a glimpse of these in the bold decisions recently taken by us," he said.
Pledging to undertake more structural reforms that will change the course of the country, he explained the concept of Atma-nirbhar Bharat or Self-reliant India - one where products are Made in India for the world and a nation that is not dependent on others in strategic sectors.
"Pledge to make the country self-reliant. Put your full strength to fulfill this resolution. Government is standing with you, you stand with the goals of the country," he added.
Addressing the 125th Annual Session of Confederation of Indian Industry (CII), the Prime Minister said: "World is looking for a trusted, reliable partner. India has potential, strength and ability. Today, Indian industries should take advantage of the trust developed in the world towards India... Getting growth back is not that difficult. The biggest thing is that Indian industries have a clear path of self-reliance."
Prime Minister Modi said that re-strengthening economy against coronavirus is one of the government's highest priorities. "The direction, in which the government is moving today, be it our mining sector, energy sector or research and technology, in every field there will be many new opportunities for the youth of the country," he said.
He said that the country now needs to manufacture products which are 'Made in India' but are 'Made for the World'. The Prime Minister said that ration has been provided to 74 crore beneficiaries of Pradhan Mantri Garib Kalyan Yojana while adding that ration is also being provided to migrant labourers for free.