CII Annual Meeting 2021: PM Modi Urges India Inc. To Increase Risk Appetite
Watch: Modi's Special Plenary Session At CII Annual Meeting
Prime Minister Narendra Modi today addressed business leaders of corporate India at the CII's annual meeting where he emphasised on the role of the private sector in spurring economic growth.
Watch the full speech and follow all updates here...
Modi Urges Industry To Take More Risks
The prime minister said that India Inc. needs to increase its risk appetite to draw more investment and create jobs.
Government Has Taken Tough Decisions, Says PM
Modi said his administration has implemented difficult reforms across various sectors that earlier governments were unable to undertake.
Reforms have been undertaken in commercial coal mining, defence, space and atomic sectors among others.
As our companies grow in these sectors more opportunities will be available for Indian youth.
We are doing reforms not under compulsion but as a conviction.Narendra Modi, Prime Minister of India
Indians Keen To Consume Made In India Products: Modi
PM Modi said that India Inc. carries a huge responsibility to build an 'Atmanirbhar Bharat'.
Indians are keen to consume Made in India products.
Now Indian industry must amend its approach to facilitate that.
There is a renewed confidence across all Indians, as we just saw in the Olympics.
The same confidence is seen in startups. Today we have 60 unicorns.
Modi Says His Government Has Eased Doing Business
PM Modi said that the government has brought in a series of changes to improve the ease of doing business in India.
India welcomes all foreign investment, has a competitive corporate tax rate and has risen in Ease of Doing Business ranks.
Labour laws have been concised into four codes, farm laws have witnessed reform.
That's why India has received record foreign direct investment flows, Modi said. FPI flows are also hitting records, he said.
Modi Emphasises Role Of Industry In India's Growth
PM Modi said that the country is witnessing strengthening of cooperation between government and industry.
During the pandemic industry has stepped forward to help in every way from masks to oxygen, he said. Industry has played an important role in India's growth, Modi added.