Share
 
Comments
Reform of global institutions has to be an on-going process. It must reflect changes in global economy: PM
Happy that IMF has decided to finalize the next round of quota changes by October 2017: PM
India has always had great faith in multi-lateralism: Prime Minister Modi
21st century is, and will be, the Asian Century: PM Modi
Asia is one of the world’s most dynamic regions: PM Modi
Asia is a ray of hope for global economic recovery: PM Modi
Social stability built on strong family values is a feature of Asia’s development: PM
India has a special place in Asia. It has historically contributed to Asia in several ways: PM
India has dispelled the myth that democracy and rapid economic growth cannot go together: PM Modi
India has shown that a large, diverse country can be managed in a way that can promote economic growth & maintain social stability: PM
Firmly believe that India can contribute to Asian prosperity and development by being economically strong: PM

Madam Lagarde, My Cabinet colleague Shri Jaitley, Ladies and Gentlemen,

I warmly welcome you all to India and to Delhi. Delhi is a city with a rich heritage, and has several historical landmarks. I hope you will have time to see some of them.

I am very happy that the IMF has collaborated with us in organizing this conference. Madam Lagarde, this event is another example of your fondness for India and Asia. I congratulate you on being appointed as Managing Director for a second term. This reflects the confidence the world has in your understanding of the global economy, and your ability to lead this institution. Madam Lagarde, the long pending quota revisions agreed in 2010 have finally come into effect. The quotas of emerging countries will now better reflect their weight in the world economy. This will give them more say in collective decisions in the IMF. You have demonstrated exceptional leadership, in managing the tensions that emerged due to the delay. You played a major role in finally persuading all members to ratify the decisions taken in 2010.

I am sure, the IMF will be able to build on this success. Reform of global institutions has to be an on-going process. It must reflect changes in the global economy, and the rising share of emerging economies. Even now, IMF quotas do not reflect the global economic realities. Change in quotas is not an issue of increasing the ‘power’ of certain countries. It is an issue of fairness and legitimacy. The belief that quotas can be changed, is essential for the fairness of the system. For poor nations to respect the legitimacy of such institutions, they must be able to aspire and to hope. I am, therefore, very happy that the IMF has decided to finalize the next round of quota changes by October 2017.

India has always had great faith in multi-lateralism. We believe that as the world becomes more complex, the role of multilateral institutions will increase. Some of you may not be aware that India was represented at the Bretton Woods Conference in 1944, which gave birth to the IMF. India’s delegate was Mr. R.K. Shanmukham Chetty, who later became independent India’s first Finance Minister. Our ties, therefore, are more than seventy years old. We are a Founding Member of the Asian Infrastructure Investment Bank and the New Development Bank. We are confident that these banks will play an important role in the development of Asia.

The Fund has built up an immense stock of economic expertise. All its members should take advantage of this. All of us need to pursue policies that provide a stable macro economy, enhance growth and further inclusion. The Fund can be of great assistance in this.

Apart from advice, the IMF can help in building capacity for policy making. I am happy to announce a new partnership with Bangladesh, Bhutan, Maldives, Nepal, Sri Lanka, India and the IMF. We have agreed to set up the South Asia Regional Training and Technical Assistance Centre. The centre will provide training to government and public sector employees. It will enhance their skills and improve the quality of their policy inputs. It will also provide technical assistance to governments and public institutions.

Let me now turn to the theme of this conference. I will touch on two issues: firstly, “Why Asia?” And secondly, “How India”? Why is Asia so important, and how can India contribute?

Many knowledgeable people have said that the twenty first century is, and will be, the Asian Century. Three out of every five people in the world live in Asia. Its share in global output and trade is now close to one-third. Its share in global foreign direct investment is about forty percent. It has also been one of the world’s most dynamic regions. Although Asia has slowed down, it is still growing at a rate three times greater than that of the advanced countries. It is, therefore, the ray of hope for global economic recovery.

When we think about Asia, we must recognize that it is distinct in many ways.

For example, the theme of this conference is ‘Investing for the Future’. Asian Families tend naturally to save more than people in other parts of the world. Thus they invest for the future. Economists have commented on the savings ethic of Asian countries. Asians tend to save to buy a house, rather than borrow to buy a house.

Many Asian countries have relied more on developmental financial institutions and banks than on capital markets. This provides an alternative model for the financial sector.

Social stability built on strong family values is another feature of Asia’s development. Asians tend to leave things behind for the next generation.

Madam Lagarde, you are one of the world’s top women leaders. You will be interested in another unique feature of Asia which is rarely commented upon: which is, the large number of women leaders. India, Sri Lanka, Bangladesh, Pakistan, Indonesia, Thailand, Korea, Myanmar, and Philippines: All of these countries have had women as national leaders. Asia has done so to a much greater degree than other continents. Today, four large states of India – West Bengal, Tamil Nadu, Gujarat and Rajasthan – are headed by democratically elected women. The Speaker of the Lower House of Parliament in India is also a woman.

India has a special place in Asia. It has historically contributed to Asia in several ways. Buddhism spread to China, Japan, and other parts of South East Asia from India. It has had a lasting influence on the continent’s culture. Kingdoms in the South and West of India have engaged in maritime trade with other parts of Asia for over a thousand years. The Indian national movement showed other Asian countries that freedom from colonial rule could be achieved without violence. It also demonstrated clearly that the sense of nationhood, could be broad and inclusive. It need not be defined by narrow linguistic or religious identities. The Sanskrit saying “Vasudhaiva Kutumbakam” – the world is one family - refers to this sense of the oneness of all identities.

India has dispelled the myth that democracy and rapid economic growth cannot go together. India’s growth rate of over seven per cent is being achieved in a country that is also a vibrant democracy. It is sometimes assumed that democracy is a colonial gift to India. But historians tell us that India had produced forms of democratic self governance, many centuries ago, when democracy was unknown in many parts of the world.

India has also shown that a large, diverse country can be managed in a way that can promote economic growth and maintain social stability. One way in which we are doing this is through cooperative and competitive federalism. The states and the Centre come together to pursue common objectives. States which pursue good policies and deliver essential services for the poor, induce others to follow.

Our rapid economic growth is also very distinct in Asia. We have never tried to gain in trade at the expense of our partners. We do not follow “beggar thy neighbour” macro-economic policies. We have never undervalued our exchange rate. We add to world and Asian demand by running current account deficits. We are therefore good Asian and good global economic citizens, and a source of demand to our trading partners.

We all want Asia to succeed. I firmly believe that India can contribute to Asian prosperity and development by being economically strong. Amid global problems, I am happy to say that India is a haven of macro-economic stability and a beacon of hope, dynamism and opportunity. Madam Lagarde, you have referred to India as the “bright spot” in the global economy. I view this as a great privilege and, at the same time, a major responsibility. Let me outline our achievements in the last few months and our priorities for the period ahead.

We have achieved major gains in macro-economic stability. A durable reduction in inflation, steady fiscal consolidation, a comfortable balance of payments position and build-up of foreign exchange reserves are the highlights.

In a difficult external environment and despite a second successive year of weak rainfall, we have increased our growth rate to 7.6 per cent, the highest among major economies in the world.

We have improved our economic governance. Corruption and interference in the decisions of banks and regulators are now behind us.

We undertook a highly successful financial inclusion programme, bringing over two hundred million unbanked people into the banking system within a span of a few months.

Thanks to our financial inclusion programme, we now have the world’s largest and most successful programme of direct benefit transfers, in cooking gas. We plan to extend it to other sectors such as food, kerosene, and fertilizers. This has improved targeting and the quality of public expenditure.

We have opened up nearly all sectors of our economy to FDI.

India achieved the highest ever rank in the World Bank Doing Business indicators in 2015.

India reached an all-time high in many physical indicators in 2015, including

the production of coal, electricity, urea, fertilizer and motor vehicles;  cargo handled at major ports and the fastest turnaround time in ports;  award of new highway kilometers;  software export;

Entrepreneurship is booming, following a series of steps we have taken. India is now fourth in the world in the number of technical start-ups, after USA, Britain and Israel. The Economist magazine has called India the new frontier for E-Commerce.

We do not intend to rest on these achievements because my agenda of “reform-to-transform” still needs to be finished. Our recent budget provides a roadmap for our future plans and ambitions. Our underlying philosophy is clear: To create the climate for wealth generation and for that wealth to be spread to all Indians, especially the poor, vulnerable, farmers, and disadvantaged communities.

We have increased investment in the rural and agriculture sector, because that is where a majority of India still lives. But our help to the farmers is not based on giving hand-outs. We aim to double farmer incomes by:

• increasing irrigation,

• better water management,

• creating rural assets,

• boosting productivity,

• improving marketing,

• reducing margins of middlemen,

• and avoiding income shocks.

We are introducing reforms in agricultural marketing and have launched a major crop insurance programme.

In addition to agriculture, we have increased public investment in roads and railways. This will improve the productivity of the economy and the connectivity of our people. Public investment is also essential at a time when private investment remains weak.

We have also made other reforms that will help create wealth and economic opportunity. Given the enormous entrepreneurial potential in the country, my motto is Start Up India and Stand Up India. The budget has provided a further boost to the ecosystem for start-ups.

Ensuring employability of the youth is essential for the success of our Make-in-India campaign. The Government of India has an ambitious agenda for skilling our labour force. Skill creation of the magnitude that we have envisaged, involves institution building, which we have undertaken. Now, we have a skill development programme that cuts across twenty-nine sectors and with a nation-wide coverage.

India is a responsible global citizen in protecting the planet. India played a positive role at the COP 21 Summit. Between now and 2030, we intend to re-write history by growing rapidly and also reducing the emission intensity of our GDP by thirty-three per cent. By then, forty per cent of our installed electric power capacity will be from non-fossil fuel. We will build an additional carbon sink of over 2.5 billion tonnes of carbon dioxide equivalent by 2030, by creating additional forest and tree cover. These initiatives are from a country with very low per capita land availability and a low base of per capita emission. We have taken the lead in launching an international solar alliance, involving 121 solar-resource rich countries falling between the Tropic of Cancer and the Tropic of Capricorn. This will help many developing countries, including those in Asia, to take advantage of developments in renewable energy. India has moved from a regime of significant carbon subsidy to one of carbon taxes. India is one of the few countries to have a carbon tax in the form of a cess on coal. The Coal cess has been doubled in the Budget of 2016-17.

India has a number of cooperative initiatives in Asia. We are transforming the ‘Look East Policy’, into an ‘Act East Policy. Our approach to cooperation is based on flexible geometry. We have integrated in different ways and at different speeds with our neighbours in South Asia, our partners in ASEAN, and our partners in Singapore, Japan, and Korea. We intend to continue doing so.

My dream is of a Transformed India. I lay this dream alongside our common dream of an Advanced Asia – an Asia where more than half of the global population can live with happiness and fulfillment. Our joint heritage and mutual respect, our common goals and similar policies, can and must create sustainable growth and shared prosperity.

Once again, I welcome you all to India. I wish the Conference all success.

Thank you.

Explore More
পি.এম.না ৭৬শুবা নীংতম নুমিৎকী থৌরমদা লাল কিলাগী লানবন্দগী জাতি মীয়ামদা থমখিবা ৱারোল

Popular Speeches

পি.এম.না ৭৬শুবা নীংতম নুমিৎকী থৌরমদা লাল কিলাগী লানবন্দগী জাতি মীয়ামদা থমখিবা ৱারোল
Life's most memorable event: Vande Bharat loco pilot on interaction with PM

Media Coverage

Life's most memorable event: Vande Bharat loco pilot on interaction with PM
...

Nm on the go

Always be the first to hear from the PM. Get the App Now!
...
PM Modi inaugurates 6th India Mobile Congress at Pragati Maidan, New Delhi
October 01, 2022
Share
 
Comments
PM inaugurates 6th edition of India Mobile Congress
“5G is a knock on the doors of a new era in the country. 5G is the beginning of an infinite sky of opportunities”
“New India will not remain a mere consumer of technology, but India will play an active role in the development and implementation of that technology”
“With 5G, India is setting a global standard in telecom technology for the first time”
“From exporting zero mobile phones in 2014, today we have become a mobile phone exporting country worth thousands of crores”
“I always had full faith in the understanding, wisdom and inquisitive mind of the common man of the country”
“Digital India has given a platform to small traders, small entrepreneurs, local artists and artisans”
“5G technology will not be limited to speedy internet access, but it has the capability to change lives”

Ushering in a new technological era, the Prime Minister, Shri Narendra Modi launched 5G services in Pragati Maidan, New Delhi today. The Prime Minister also inaugurated the sixth edition of the India Mobile Congress and also witnessed the IMC Exhibition that was put on the occasion.

Industry leaders expressed their views on this historic occasion.

Shri Mukesh Ambani, Chairman, Reliance, thanked the Prime Minister for inspiring the vision of a developed nation by 2047. “Every action and policy of the government is skillfully crafted to propel India, towards that goal. Steps taken to fast-track India’s march into the 5G era provide compelling proof of our Prime Minister’s determination”, he said. He narrated the possibilities of 5G in key areas like education, education and climate etc. “Your leadership has raised India’s prestige, profile and power globally like never before. In today’s fast-changing world there will be no stopping a resurgent India from soaring to the top”, Shri Ambani concluded.

Shri Sunil Bharti Mittal, Chairman, Bharti Enterprise remarked that the launch of 5G is the beginning of a new era and since it is happening during Azadi Ka Amrit Mahotsav, it makes it even more special. “With the efforts of the Prime Minister, this will usher new energy in the country. We are fortunate to have a leader in the Prime Minister who understands technology very minutely and deployed that to the development of the country in an unmatched manner”, he added. Shri Mittal further said that it will open up a sea of opportunities for people, especially in our rural areas. He recalled the Prime Minister's initiatives in the field of infrastructure and technology from his Gujarat CM days. He said that during the pandemic, traffic shifted to villages and homes and the country's heartbeat did not stop even for a second. Credit for that goes to the digital vision. He also praised the audacity and achievement of the vision of Make in India.“Along with Digital India, the Prime Minister also took forward the Start-up India campaign and soon enough, India started producing unicorns”, Shri Mittal added, “With the advent of 5G, I’m sure that the country will add many more unicorns in the world.”

Shri Kumar Mangalam Birla, Chairman, Aditya Birla Group called the advent of 5G a transformational event that proves India’s prowess on the global stage and reiterates the role of telecom technology as the bedrock of India's growth. He thanked the Hon’ble Prime Minister Shri Narendra Modi for his vision and leadership for a generational leap in technology that has resulted in India making a mark on the global stage. He also thanked the Prime Minister for his inspirational role in supporting the telecom industry during the ongoing pandemic and for the path-breaking telecom reforms in the industry. Shri Birla said that the launch of 5G marks the beginning of an exciting journey for India. “We will see limitless potential for 5G development and use cases in the years to come”, he added.

The three major telecom operators of the country demonstrated one use case each in front of the Prime Minister to show the potential of 5G technology in India.

Reliance Jio connected a teacher from a school in Mumbai, with students in three different locations in Maharashtra, Gujarat and Odisha. This demonstrated how 5G will facilitate education by bringing teachers closer to students, obliviating the physical distance between them. It also demonstrated the power of Augmented Reality (AR) on screen and how that is being used to teach children across the country, remotely, without the need for an AR device. The Prime Minister interacted with students from Dnyanjyoti Savitribai Phule School, Raigad, Maharashtra in presence of Maharashtra Chief Minister, Shri Eknath Shinde. Students from Ropda Primary School, Gandhinagar, Gujarat connected in presence of Gujarat Chief Minister, Shri Bhupendra Patel. The Prime Minister also interacted with students from SLS Memorial School, Myurbhanj, Odisha in presence of Odisha Chief Minister, Shri Navin Patnaik. Shri Abhimanyu Basu, Dhirubhai Ambani Int. School, BKC, Mumbai also demonstrated the use of 5G technology. The Prime Minister noted the enthusiasm of the students for technology in education. Author Amish Tripathi introduced the segment.

The Vodafone Idea test case demonstrated the safety of workers in an under-construction tunnel of Delhi Metro through the creation of a Digital Twin of the tunnel on the dias. Digital Twin will help give safety alerts to workers in real time from a remote location. PM took a live demo from the dias to monitor the work in real-time through utilising VR and Artificial Intelligence. The Prime Minister interacted with Shri Rinku Kumar, a worker in Delhi Metro Tunnel Dwarka, New Delhi in presence of Delhi Lieutenant Governor, Shri Vinai Saxena. The Prime Minister inquired about the user experience and learning curve needed to adopt the technology. He said that workers' confidence in safety is the biggest contribution of new tech. He complimented the workers of India for their contribution to the nation’s growth.

In the Airtel demo, students from Dankaur, Uttar Pradesh witnessed a lively and immersive education experience to learn about the solar system with the help of Virtual reality and Augmented reality. A student Khushi, shared her experience of learning with the PM by appearing on the dias through a hologram. Uttar Pradesh Chief Minister, Shri Yogi Adiyanath connected from Rudraksh Convention Centre, Varanasi. The Prime Minister inquired if the VR education experience helped them understand the concepts in a comprehensive way. The student said that after this experience she is much more inclined toward learning new things.

Addressing the gathering the Prime Minister said that the Summit today might be global but its repercussions and directions are local. He said today is a special day for the fast-developing India of the 21st century. “Today, 130 crore Indians are getting a wonderful gift in the form of 5G from the country and from the telecom industry of the country. 5G is a knock on the doors of a new era in the country. “5G is the beginning of an infinite sky of opportunities. I congratulate every Indian for this.”, he added. He noted with satisfaction that in this launch of 5G and the march of technology, rural areas and workers are equal partners.

Stressing one more message of the 5G launch, the Prime Minister said” New India will not remain a mere consumer of technology, but India will play an active role in the development and implementation of that technology. India will play a big role in designing the future wireless technology, and manufacturing related to it.”The Prime Minister pointed out that India was dependent on other countries for 2G, 3G and 4G technologies. But with 5G, India has created a new history. “With 5G, India is setting a global standard in telecom technology for the first time”, he remarked.

Talking about Digital India, the Prime Minister said that some people think that this is just a government scheme. “But Digital India is not just a name, it is a big vision for the development of the country. The goal of this vision is to bring that technology to the common people, which works for the people, works by connecting with the people.”

Focussing on the need for a holistic approach to Digital India, the Prime Minister elaborated that “we focused on 4 Pillars, in four directions at once. First, the price of the device, Second, digital connectivity, Third, the cost of data, Fourth, and most importantly, the idea of 'digital first' .

Regarding the first pillar, the Prime Minister said that the low cost of devices can only be achieved through Aatmnirbharta. The Prime Minister recalled that there were only two mobile manufacturing units in India till eight years ago. “These numbers have now gone up to 200”, Shri Modi said. The Prime Minister underlined that from exporting zero mobile phones in 2014, today we have become a mobile phone exporting country worth thousands of crores. “Naturally, all these efforts have had an impact on the cost of the device. Now we have started getting more features at a lower cost”, he added.

On the second pillar of digital connectivity, the Prime Minister informed that internet users have increased to 80 crores from 6 crores in 2014. From less than 100 panchayats in 2014 now 1.7 lakh panchayats are connected by optical fiber. “Just as the government started a door-to-door campaign to provide electricity, worked on the mission of providing clean water to everyone through the Har Ghar Jal Abhiyan, and delivered gas cylinders to the poorest of the poorest people through the Ujjwala scheme, our Government is working in a similar manner on the goal of Internet for all”, he said.

Regarding the third pillar, the cost of data, the Prime Minister said that the industry was given a slew of incentives and technologies like 4G received policy support. This brought down the price of data and a data revolution was ushered in the country. These three pillars started showing their multiplier effect everywhere, he said.

On the topic of the fourth pillar i.e. Idea of 'Digital First', the Prime Minister recalled the time when a handful of the elite class questioned if the poor would even understand the meaning of digital and doubted their potential, the Prime Minister said that he always had faith in the understanding, wisdom and inquisitive mind of the common man of the country. He said that he always found the poor of the country ready to adopt new technologies.

Highlighting the government’s efforts in the field of digital payments, the Prime Minister remarked that it was the government that went ahead and made the way for digital payments easier. “The government itself promoted citizen-centric delivery service through the app. Whether it is about farmers or small shopkeepers, we have given them a way to meet their daily needs through the app”, Shri Modi added. He recounted the seamless continuation of DBT, education, vaccination and health services, and work-from-home during the pandemic when many countries were finding it difficult to keep these services going.

Remarking that Digital India has given a platform, the Prime Minister said that small traders, small entrepreneurs, local artists and artisans can now market to everyone. Shri Modi added, “Today you go to a local market or vegetable market and see, even a small street vendor will tell you, not to transact in cash, but via 'UPI'.” “This shows”, the Prime Minister added, “When a facility is available, thinking also gets emboldened”. The Prime Minister said when the government works with clean intentions, the intentions of citizens also undergo change. “This is the key difference in the intention (niyat) of 2G and 5G”, he remarked.

The Prime Minister said that the cost of data is among the lowest in the world. It has come down from 300 rupees per GB to about 10 rupees per GB. Remarking on the consumer-centric focussed efforts of the government, the Prime Minister said that the cost of data in India has remained very low due. The Prime Minister interjected, “It is a different matter that we did not make a fuss about, and did not launch big advertisements. We focused on how the convenience and Ease of Living of the people of the country increased.” “India may not have benefitted from the first three industrial revolutions, but I am confident that India will take full benefit of the 4th industrial revolution and, in fact, will lead it”, he added.

The Prime Minister informed that the use of 5G technology will not be limited to speedy internet access, but it has the capability to change lives. He said that we will see the promises of the technology realized in our lifetimes. Shri Modi urged the leaders of the telecom industry association to visit the schools and colleges of the country and unleash every aspect of this new technology. He also asked them to create an enabling ecosystem for MSMEs to prepare spare parts for electronic manufacturing. “5G technology should be used to bring about a revolution in the country”, he remarked. The Prime Minister highlighted the use of drone technology that has been made possible after the newly launched Drone Policy. He pointed out that many farmers have learnt how to fly drones and started making use of them to spray insecticides and pesticides in the fields. The Prime Minister assured one and all that India of the future will guide the world in the upcoming technology sector, in turn making India a global leader.

Union Minister of Communications, Shri Ashvini Vaishnaw, Union Minister of State for Communications, Shri Devusinh Chauhan, Chairman of Reliance Industries, Shri Mukesh Ambani, Chairman of Bharti Enterprises, Shri Sunil Mittal, Chairman of Aditya Birla Group, Shri Kumar Mangalam Birla and Secretary, Department of Telecommunications, Shri K Rajaraman were those present on the occasion.

Background

5G technology will offer a wide range of benefits to the common people. It will help in providing seamless coverage, high data rate, low latency, and highly reliable communications. Also, It will increase energy efficiency, spectrum efficiency and network efficiency. 5G technology will help in connecting billions of Internet of Things devices, will allow higher quality video services with mobility at high speed, and delivery of critical services such as telesurgery and autonomous cars among others. 5G will help in real-time monitoring of disasters, precision agriculture, and minimising the role of humans in dangerous industrial operations such as in deep mines, offshore activities etc. Unlike existing mobile communication networks, 5G networks will allow tailoring of requirements for each of these different use cases within the same network

The IMC 2022 is scheduled to be held from 1st to 4th October with the theme of “New digital Universe”. It will bring together leading thinkers, entrepreneurs, innovators, and government officials to discuss and showcase unique opportunities emerging from the rapid adoption and spread of digital technology.