Text of PM’s inaugural address at India Global Week 2020

Distinguished guests from  all walks  of life,  Namaste! Greetings from India.  I appreciate  India Inc Group  for organizing this event. The present event is a part of the excellent work that  India Inc  has done over the past years. Your events have helped bring the opportunities in India to a global audience. You have helped making the links between  India and UK stronger. I am happy that this year's event has expanded its reach to  other partners also. Congratulations again. Hopefully next year, you will also get the opportunity to be on the Centre Court and enjoy Wimbledon. 

Friends, 

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. I see this closely linked with  two factors.   The first is- Indian talent.  World over,  you have seen the contribution of India's  talent-force. This includes Indian professionals,   doctors,   nurses,   bankers,   lawyers,   scientists,   professors,   our  hard-working labourers.     Who can forget the Indian  tech  industry and tech  professionals. They have been showing the way for decades.     India is a power-house  of talent, that is eager to contribute, ever ready  to learn.     There is  two-way  synergy that is greatly beneficial.     

Friends,  

The second factor is  India's ability  to reform and rejuvenate . Indians are natural reformers!  History has shown   that India has overcome every challenge, be it social or economical. India has  done so  with a spirit of reform and rejuvenation. The same sprit continues now. 

Friends, 

On one hand India is fighting  a strong battle against the global pandemic. With an increased focus on people's health,  we are equally focussed on the health of the economy. When India talks of  revival   it is  revival  with care,    revival  with compassion,   revival  which is sustainable - both for the environment  and the economy. We in India belong to the culture where Mother Nature is worshipped by everyone. It is believed in India that the Earth is our Mother and we are her children. 

Friends, 

During the last six years,   India has made great gains in areas such as Total  financial  inclusion, Record housing and infra construction, Ease of Doing Business, Bold tax reforms including the GST, Roll out of the world's largest health care initiative - Ayushman Bharat.  These gains have set the foundations for the next round  of development  initiatives.     

Friends, 

Indians have the spirit to achieve what is believed to be  impossible. No wonder that in India,  we are already seeing  green-shoots when it comes  to economic recovery. In this time of a pandemic,  we have provided relief to our citizens and undertaken  deep structural reforms. We are making the economy: more productive, investment friendly and   competitive.  

Our relief package has been smart and targeted to provide the  most poor with the  most help. Thanks to technology, every  penny  has reached the beneficiaries directly.  The relief  includes,providing free cooking gas, cash in the  bank accounts,   free food grains to millions of people and many other things.  As soon as we unlocked,  we have launched  one of the world's largest public works program to provide employment to millions of workers. This will not only re-energise the rural economy, but also help in creation of durable  infrastructure in the rural areas. 

Friends, 

India remains one of the most open economies in the world.We are laying  a red carpet for all global companies to come and establish their presence in India.  Very few countries will offer the kind of opportunites India does today. There are many possibilities and opportunities in various  sunrise sectors in India. Our reforms in agriculture provide a very attractive investment opportunity to invest in storage and logistics. We are opening the doors to investors to come and invest directly in the hard-work of our farmers.      

Friends,

We have brought reforms in the MSME sector. A booming   MSME sector will also complement  big industry. There are investment opportunities in the defence sector. With relaxed  FDI norms,  one of the world's biggest militaries  invites you to come and make products for it.  Now,  there are more opportunities for private investment in space sector.   This will mean greater access to commercial use of space tech   for the benefit of people. India's tech  and start-up sector is vibrant.   There is a market of  millions of  digitally empowered, aspirational  people.Imagine the  kind of products you can make for them.

Friends,

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. Vaccines made in India are responsible for two-thirds of the vaccination needs of the world's children.   Today also,  our companies are active in the international efforts for development and production of COVID-19 vaccine. I am certain that India will have an important role in developing and in  scaling-up production of the vaccine once it is discovered.  

Friends,

130 crore Indians have given the call for an AtmaNirbhar Bharat.  A self  reliant   India.  AtmaNirbhar Bharat  merges domestic production and consumption with global supply chains.  AtmaNirbhar Bharat   is not about being  self-contained  or being closed to the world.  It is about being self-sustaining and  self-generating.     We will  pursue   policies that promote efficiency,  equity  and resilience.

Friends

I am happy to note that this Forum is also marking the 100th birth anniversary of Pandit Ravi Shankar. He took the  beauty of  Indian classical music to the world. You would also have seen how Namaste  has gone global as a form of greeting.      The pandemic has also seen the increasing appeal of  Yoga,  Ayurveda and  traditional medicines world over.      India's ancient culture,   India's universal, peaceful ethos, is our strength.      

Friends, 

India is ready to do whatever it can to further global good and prosperity.  This is an India that is reforming,  performing  and  transforming.     This is an India that offers new economic opportunities.    This is an India that is adopting a  human-centric  and  inclusive approach to development.  

India awaits you all  

Namaste,

Thank you very much.  

New Delhi

09 July 2020