We'll together take up structural reforms to change post-COVID-19 India: PM Modi to Industry

As India began to unlock its economy, Prime Minister Narendra Modi Tuesday urged the industry to come up with a detailed study of every sector and build consensus on reforms, ensuring them the government will work with them thoroughly to make India self-reliant.

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In his first major speech on the economy after the unlocking began on June 1, Modi assured industry he was standing behind them in bringing India back to the growth path after the pandemic wreaked havoc.

“I assure the industry that the Prime Minister of India is standing with them. It is not that difficult to get growth back. COVID-19 may have slowed us down but the reality is India has entered Unlock 1.0, getting growth back has already started,” he said in his address at industry body CII’s annual day on the theme "Getting Growth Back" via video conferencing.

"You must be surprised how am I so confident. I believe in India's industry leaders. Yes, we will definitely get our growth back," said the prime minister, asking the industry to also think of investing in rural economy in a big way for which the government is readying the required infrastructure.

The government is providing infra to create agro-processing clusters near rural areas. Government considers the private sector a partner in nation-building, he said.

Among other things, PM Modi said India should achieve self-reliance in furniture, leather, footwear, making air conditioners, food processing.

India's robust local supply chain will be able to support global supply chains. We need to focus on ‘Made In India’ products that are made for the world, PM Modi said, asking the industry to ensure manufacture in India is accompanied by trust, quality and competitiveness.

He said the government will further engage in discussions with industry leaders to create more jobs under schemes like 'Make in India' and he emphasised on five pillars of intent, inclusion, investment, infrastructure and innovation to speed up India's development and make it 'atma nirbhar'.

You will get a glimpse of these five in the bold decisions recently taken by us, he added.

"I request you to come up with a detailed study for each sector. We will together take up more structural reforms that will change the course of our country. We will together make India atma nirbhar, the government is with you," he said.