Key takeaways from PM Modi's Global Week summit address

India will play a leading role in the revival of the global economy, Prime Minister Narendra Modi said during his virtual address at the India Global Week 2020.

"In these times, it is natural to talk about revival. It is equally natural to link global revival and India. There is faith that the story of global revival will have India playing a leading role," PM ⁦Modi said. He added that India remains one of the most open economies in the world and that India is laying a "red carpet for all global companies to come and establish their presence in India".

PM Modi said that Indians are natural reformers. "History shows that India has overcome every challenge be it social or economic. On one hand, India is fighting strong battle against the global pandemic. With an increased focus on people's health, we are equally focussed on the health of the economy," said PM Modi.

He further explained that when India talks of revival, it's revival with care, with compassion, which is sustainable both for environment and economy.

"Indians have the spirit to achieve what is believed to be impossible. No wonder that in India, we are already seeing green shoots of economic recovery," the prime minister said.

The prime minister said that the pandemic has once again shown that India's pharma industry is an asset not just for India but for the entire world. "It has played a leading role in reducing the cost of medicines, especially for developing countries," he said.

"I'm certain that India will have an important role in developing and in scaling up production of the vaccine once it is discovered," PM Modi said.

He also clarified that Atma Nirbhar Bharat is not about being self-contained or closed to the world but it is about being self-sustaining and self-generating.