PM Modi addresses World Economic Forum in Davos

Prime Minister Narendra Modi has expressed confidence that in the times to come India will fulfill the hopes and aspirations of the world. Virtually delivering the World address at the World Economic Forum, Davos Summit, Mr. Modi said, India is moving forward with great strength and vigour.

He said, India is celebrating its 75th year of Independence and also the administration of 160 crore vaccine doses in the country. Mr. Modi said, India has recently completed the enormous task of administering 160 crore vaccine doses.

The Prime Minister said, in this period of Corona, India showcased its strength by providing free food to more than 80 crore of its citizens. He said, India also focused on reforms in the right direction. Mr. Modi said, global economic experts, have praised India's decisions. He said, in this time of Corona pandemic, India followed the vision of One Earth, One Health, and saving crores of lives by giving essential medicines, vaccines to many countries.

The Prime Minister said, today India is the world's third-largest pharma producer and pharmacy to the world. Mr Modi said, a strong democracy such as India has given the entire world a bouquet of hope. The Prime Minister said, the bouquet contains, trust towards democracy, technology to empower 21st century, and talent and temperament of Indians.

He said, today India has the world's largest, safe and successful digital payments platform. Mr. Modi said, last month alone, 4.4 billion transactions took place in India through Unified Payments Interface. He said, today India is sending record software engineers to the world and more than 50 lakh software developers are working in India.

The Prime Minister said, today India has the third largest number of Unicorns in the world and more than ten thousand start-ups have been registered in the last 6 months. Mr Modi said, India was once known for license raj and today, it is encouraging ease of doing business and reducing government involvement in businesses. He said India has made itself the most competitive in the world by simplifying and reducing its corporate tax rates.

The Prime Minister said, last year alone, Government of India reduced more than 25 thousand compliances. He said, entrepreneurship among Indian youth is at a new height today. Mr Modi said, in 2014 where there were a few hundred registered start ups in India. He said, their number has crossed 60 thousand today.

The Prime Minister said, it also has more than 80 unicorns of which more than 40 were established in 2021. Mr Modi said, India is committed to become world's reliable partner in global supply chains. He said this is the best time to invest in India. He said, while following the path of self-reliance, India's focus is not only on easing the processes but also on incentivizing investment and production.

Mr Modi said, with this approach, 26 billion dollars Production Linked Incentive schemes have been implemented in 14 sectors. He said, today India is making policies, taking decisions regarding the present as well as the goals of the next 25 years. The Prime Minister said, in this period, India has set the goals of high growth, a saturation of welfare, and wellness.

He said, this period of growth will also be green, clean, sustainable, and reliable. Mr Modi said, we have to accept that our lifestyle is also a big challenge for the climate. He said, throwing away culture and consumerism have made the climate challenge more serious. The Prime Minister said, it is very important to move rapidly towards the circular economy from the 'take-make-use-dispose' economy of today.

Referring to the Mission LIFE, that he gave at the UN climate conference-CoP26, the Prime Minister said, making LIFE into a mass movement can be a strong foundation for P-3 that is 'Pro Planet People'.

He said, LIFE which stands for 'Lifestyle for Environment', is a vision of resilient and sustainable lifestyle that will come in handy in dealing with the climate crisis and other unpredictable challenges of the future. Mr Modi also told the forum about India's impressive record in achieving the climate target well in advance of the target dates.

The Prime Minister emphasized the need to adapt as per the changing realities of the world order. Mr Modi said, the global family is facing fresh challenges in the changing world order and called for collective and synchronized action from every country and global agency. He cited supply chain disruptions, inflation, and climate change as key examples.

Prime Minister also gave an example of cryptocurrency where related technologies and their challenges do not lend themselves to the decisions of any single country.

Mr Modi called everyone to be on one page on this. He asked whether the multilateral organizations are in a position to tackle the challenges of the world order in a changed scenario, as the world has changed from the time when these organizations came into being. Prime Minister said, that is why it is imperative that every democratic nation should push for reforms of these bodies so that they can come up to the task dealing with the challenges of the present and the future.