CII Annual Meeting 2021: PM Modi Urges India Inc. To Increase Risk Appetite

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...

The prime minister said that India Inc. needs to increase its risk appetite to draw more investment and create jobs.

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.

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.

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.

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.

Prime Minister Narendra Modi will address business leaders today at the Confederation of Indian Industry's annual meeting.

Modi will speak in the plenary session of the CII's meet at 4:30 p.m. through video. According to the programme schedule, his session is expected to go on till 5:30 p.m.

This year, the annual meet's theme is focussed on collaboration between the government and business for Atmanirbhar Bharat—a clarion call made by the Modi government last year to promote self reliance.

The two-day meet is being attended by various members of India Inc. and policymakers.

Apart from Modi, some of the speakers from the government include Finance Minister Nirmala Sitharaman, Health Minister Mansukh Mandaviya, Education Minister Dharmendra Pradhan, Road Minister Nitin Gadkari, External Affairs Minister S Jaishankar, Commerce Minister Piyush Goyal and NITI Aayog chief Amitabh Kant.

Other secretaries from various minister and a few state chief ministers are also slated to hold sessions over the two days.