Govt moving ahead with idea of 'Make in India, Make for World', says PM Modi at WEF
- IBEF
- January 18, 2022
India is moving forward with the principle of "Make in India, Make for World," Prime Minister Narendra Modi said on Monday, fostering self-reliance across sectors. PM Modi addressed on the 'State of the World' at the World Economic Forum's (WEF) Davos Agenda conference remotely, saying that India will continue with its reforms to enable its vision of sustainable economic growth.
The following are the highlights of PM Modi's speech:
'India has given bouquet of hope to world'
India, which is commemorating its 75th year of independence, has given the world a "bouquet of hope," according to PM Modi. On January 16, India celebrated the one-year anniversary of its vaccination campaign. He described India's unshakeable faith in democracy as a "bouquet of hope."
"In this bouquet, we Indians have an unwavering trust in our democracy, we have the technology to empower the 21st century with the temperament and talent of our people," he said.
Best time to invest in India'
PM Modi reaffirmed that now is the best moment to invest in India since the government is focusing on making it easier to do business and reducing government engagement in the economy. India is moving ahead with the mantra of "Make in India" and "Make for the World", PM Modi said.
'Green, clean and sustainable growth'
According to the Prime Minister, the administration is formulating policies and making decisions for the current as well as the next 25 years' objectives. India has established goals for strong growth, saturation of welfare, and wellness during this time, he noted. "This period of growth will also be green, it will also be clean, it will also be sustainable, it will also be reliable," he noted.
'India following the path of self-reliance'
India's focus, according to the Prime Minister, is not only on streamlining processes, but also on stimulating investment and production. Production-linked incentive (PLI) schemes worth US$ 26 billion have been developed in 14 sectors as a result of this methodology.
'Most successful digital platform'
India boasts the largest, safest, and most successful digital payment platform in the world. According to the PM, 4.4 billion transactions were made in India through the Unified Payments Interface (UPI) in December alone.
'All countries must work together on cryptocurrency'
According to PM Modi, the technology underpinning crypto makes it hard for any single government to handle all of the challenges associated with the digital currency. "The kind of technology it is associated with, the decisions taken by a single country will be insufficient to deal with its challenges. We have to have a similar mindset," he said. In addition, he highlighted that as the world order changes, so do the issues that people face as a global family. As a result, he urged for coordinated and coordinated effort by every country and global organisation to combat these threats.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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