Time for bold decisions, bold investments: PM Modi to industry body

Addressing businesses in India via the second virtual talk within 10 days, Prime Minister Narendra Modi on Thursday stressed that it was time for bold decisions and bold investments.

“At this time, we’ve to take Indian economy out of ‘command and control’ and take it towards ‘plug and play’. This isn’t the time for conservative approach. It’s time for bold decisions and bold investments. It’s time to prepare a globally competitive domestic supply chain,” Modi said at the 95th annual day of Indian Chamber of Commerce (ICC).

Reiterating his idea of a self-reliant India, Modi breathed confidence into the coronavirus-battered business community saying “we have to turn COVID-19 crisis into an opportunity for creating atma nirbhar Bharat. “It is time to make every village, district ‘atma nirbhar’ (self-reliant). Atma nirbhar Bharat simply means that India does not rely on other countries. It is time for vocal to be local.”

The prime minister reminded that India is fighting multiple challenges with COVID-19, including floods, locust attack and earthquakes.

He said “The entire world is fighting coronavirus. Our country is not far behind. Courage is the cure for all problems,” he reminded. “Decades ago Swami Vivekananda wrote, ‘The simplest method to be worked upon at present is to induce Indians to use their own produce and get markets for Indian artware in other countries’. This path shown by Swami Vivekananda is an inspiration for India in post-COVID world,” he added.

PM Modi also acknowledged the contributions made by ICC to develop east and northeast India, especially the manufacturing sector there.

“People, planet and profit are interlinked. All three can simultaneously flourish, co-exist. People-centric, people-driven and planet-friendly development have become part of our governance,” Modi said, giving the example of the LED bulbs initiative in India.