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Home / India News / ‘No time for conservative approach’: PM Modi calls for bold decisions to spur economy

‘No time for conservative approach’: PM Modi calls for bold decisions to spur economy

PM Modi stated that now is the time to turn the prevailing crisis into an opportunity to build a ‘self-reliant’ India. “This isn’t the time for a conservative approach,” he said.

india Updated: Jun 11, 2020 14:59 IST
hindustantimes.com | Edited by Sparshita Saxena
hindustantimes.com | Edited by Sparshita Saxena
Hindustan Times, New Delhi
Prime Minister Narendra Modi during the inaugural address on the occasion of 95th annual plenary session of Indian Chamber of Commerce (ICC) on Thursday.
Prime Minister Narendra Modi during the inaugural address on the occasion of 95th annual plenary session of Indian Chamber of Commerce (ICC) on Thursday.(ANI)

India’s economy needs to be taken out of the ‘command and control’ mode towards ‘plug and play’, prime minister Narendra Modi said on Thursday. PM Modi stated that now is the time to turn the prevailing Covid-19 crisis into an opportunity and build a ‘self-reliant’ India.

“This isn’t the time for a conservative approach. It’s time for bold decisions and bold investments. It’s time to prepare a globally competitive domestic supply chain,” he said, reiterating the need to promote local innovation.

The prime minister called for the need to work faster in the direction to figure out how can the country begin to export what it has been importing so far.

Also read: ‘Need to make Covid-19 crisis major turning point for nation’ - PM Modi

“Everything that the country is forced to import, how should it be made in India, how India should become an exporter of the same products in future, we have to work faster in this direction,” he said.

The prime minister was speaking during the inaugural address on the occasion of 95th annual plenary session of Indian Chamber of Commerce (ICC) on Thursday. He began his address by lauding the contributions made by the ICC and for carrying on the tradition of excellence for 95 years. The ICC is one of the top bodies representing businesses and industries in the eastern and north-eastern India.

The prime minister said that the country is facing many challenges amid the Covid-19 pandemic, from locust attacks, cyclones to earthquakes, among other crises.

He said fate favours those who see opportunities in the face of adversities and lauded teh country’s firm resolve and fighting spirit. “Mann ke hare haar, mann ke hare jeet - only our firm resolve and determination can decide our future,” he said.

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