During his address, Prime Minister Narendra Modi emphasized that the government possesses a strong political will and is committed to a "nation-first approach" in shaping its policies. He urged India Inc to seize the "golden chance" presented to contribute towards achieving the vision of Viksit Bharat by 2047, coinciding with the nation's 100th anniversary of independence. The Prime Minister's words serve as a rallying call for the industry to actively participate in the nation's journey towards progress and prosperity.
In a resolute address, Prime Minister Narendra Modi assured India Inc of the government's unwavering commitment to a "nation-first approach" and emphasized the golden opportunity for the industry to contribute to the goal of a developed India by 2047, the 100th anniversary of independence. With India poised to become the world's third-largest economy in the next five years, global investors are eagerly eyeing the country as an attractive investment destination.
Speaking at his inaugural post-budget meeting organized by the Confederation of Indian Industry (CII), Modi acknowledged Indian firms as "wealth creators" and the driving force behind the nation's growth story. The recently announced budget, which prioritized employment generation, skilling, and fiscal consolidation, reflects the government's focus on sustainable economic development.
Despite a challenging global environment characterized by uncertainty, India has stood as a beacon of growth and stability, maintaining its position as a "high-growth, low-inflation" country. Modi expressed confidence in India's strong macroeconomic fundamentals, which instill the belief that the nation will achieve its vision of becoming a developed country by 2047. The economy grew by an impressive 8.2% in FY24, with forecasts predicting expansion of nearly 7% in FY25.
Modi highlighted the keen interest of international investors in India, emphasizing that this moment presents a golden opportunity for Indian industry. The Prime Minister, accompanied by Finance Minister Nirmala Sitharaman and Commerce and Industry Minister Piyush Goyal, urged industry leaders and entrepreneurs to actively participate in emerging sectors such as semiconductors, electronics, and green energy.
Recognizing the potential of small nuclear reactors, Modi emphasized their benefits for both energy access and the growth of related supply chains. The Prime Minister applauded Indian industries and entrepreneurs for their unwavering commitment to the nation's development and expressed confidence in their ability to position India as a global player in sunrise sectors.
Modi also highlighted the importance of creating an investor-friendly environment, urging state chief ministers to compete with each other to attract investments. Initiatives such as Make in India, simplified foreign direct investment (FDI) rules across sectors, multimodal logistics parks, and production-linked investment (PLI) schemes for 14 sectors are instrumental in transforming India into a global manufacturing hub.
With the government's nation-first approach, the promising economic forecast, and the unwavering support of India Inc, the nation stands on the cusp of an era of transformative growth and prosperity. Prime Minister Modi's call to seize this golden opportunity resonates with the industry, instilling confidence in India's potential to become a global economic powerhouse.
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