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India receiving record FDIs, forex reserve at an all-time high: PM Modi at annual CII session
Prime Minister Narendra Modi said Indian start-ups have the same level of self-confidence as displayed by Indian athletes and sportspersons at Tokyo Olympics.
Prime Minister Narendra Modi on Wednesday said that India is receiving record foreign direct investments (FDIs) and the country’s forex reserve is at an all-time high. Speaking at an annual session of the Confederation of Indian Industry (CII), PM Modi said Indian start-ups have the same level of self-confidence as displayed by Indian athletes and sportspersons at Tokyo Olympics.
“When today's youth of India come out on the field, they don't have any hesitancy in their minds. They want to work hard and take risks. They want to yield results. Yes, we belong to this place - we see this emotion in our youth today,” he said.
PM Modi highlighted the collaboration between the government and the Indian industries to make available face masks, PPE kits, and other essential supplies needed to fight the coronavirus disease (Covid-19) pandemic. Citing the reports of "record hiring" in the IT sector, the prime minister said it was only possible due to the growth of digitisation and demand.
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PM Modi told the industry veterans that the psychology of “foreign is better” forced Indian brands, built after years of hard work, to promote under foreign names only.
“Today the situation is changing rapidly. Today the sentiment of the countrymen is with the products made in India. It is not necessary that the company should be Indian, but today every Indian wants to adopt products made in India,” the prime minister said.
He also noted the big leap made by India on the Ease of Doing Business Index.
"Today's new India is ready to walk with the new world. India, which was once apprehensive of foreign investment, is now welcoming all types of investment," he added.
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The theme of the two-day session of the CII, scheduled for August 11-12, is 'India@75: Government and Business working together for Aatmanirbhar Bharat'.
Singapore's deputy prime minister Heng Swee Keat will address the session as Special International Guest Speaker. The event will also witness participation from ministers, senior officials, academics and prominent representatives of Indian industry.
