PM Modi inaugurates Global Entrepreneurship Summit-2017 in Hyderabad

Published By : Admin | November 28, 2017 | 15:46 IST
#GES2017 brings together leading investors, entrepreneurs, academicians, think-tanks and other stakeholders to propel the global entrepreneurship ecosystem: PM
In Indian mythology, woman is an incarnation of Shakti - the Goddess of power. We believe women empowerment is crucial to our development: PM at #GES2017
#GES2017: Indian women continue to lead in different walks of life. Our space programmes, including the Mars Orbiter Mission, have had immense contribution from women scientists, says PM Modi
In India, we have constitutionally provided for not less than one third of women representation in rural and urban local bodies, ensuring women’s participation in grass-root level decision-making: PM at #GES2017
I see 800 million potential entrepreneurs who can work towards making the world a better place: PM Modi at #GES2017
Our Start-Up India programme is a comprehensive action plan to foster entrepreneurship and promote innovation. It aims to minimize the regulatory burden and provide support to startups: PM at #GES2017
We have launched the MUDRA scheme to provide easy finance of upto one million rupees to entrepreneurs; more than 70 million loans have been sanctioned to women entrepreneurs: PM at #GES2017
A historic overhaul of the taxation system has been recently undertaken, bringing in the Goods and Services Tax across the country: PM at #GES2017
To my entrepreneur friends from across the globe, I would like to say: Come, Make in India, Invest in India - for India, and for the world, says PM Modi at #GES2017

We are happy to host the 2017 Global Entrepreneurship Summit in partnership with the Government of the United States of America.

The Summit is being held in South Asia for the first time.It brings together leading investors, entrepreneurs, academicians, think-tanks and other stakeholders to propel the global entrepreneurship ecosystem.

This event not only binds the Silicon Valley with Hyderabad but alsoshow-cases the close ties between the United States of America and India.It under-linesour shared commitment towards encouraging entrepreneurship and innovation.

The topics picked for this year’s summit include healthcare and life sciences; digital economy and financial technology; energy and infrastructure; and media and entertainment. These are all important issues, relevant to the well-being and prosperity of mankind.

The theme “Women First, Prosperity for All” makes this edition of GES stand out.In Indian mythology,woman is an incarnation of Shakti- the Goddess of power. We believe women empowerment is crucial to our development.

Our historyhas references to women of exceptional talent and determination. Gargi, an ancient philosopher,around the seventh century BC, challenged a male sage (सेज)to a philosophical discourse -something unheard of in those times. Our warrior queens like Rani Ahilyabai Holkar and Rani Lakshmibai fought bravely to defendtheir kingdoms. Our freedom struggle too is replete with such inspirational instances.

Indian women continue to lead in different walks of life. Our space programmes, including the Mars Orbiter Mission,have had immense contributionfromwomen scientists. Kalpana Chawla and Sunita Williams, both of Indian origin, have been part of US space missions.

Three out of four oldest High Courts in Indiaare now headed by women judges. Our sportswomen have done the country proud.This very city of Hyderabad is home to Saina Nehwal, PV Sindhu, and Sania Mirza, who have brought laurels to India.

In India,we have constitutionally provided for not less than one third of women representation in rural and urban local bodies, ensuring women’s participation ingrass-root level decision-making.

More than sixty percent of workers in our agriculture and allied sectors are women.Our milk co-operatives in Gujarat and the Shri Mahila Griha Udyog Lijjat Papad, are examples of highly successful and globally acclaimed women-led co-operative movements.

Friends. 

Over the next two days,you will meet many women who have dared to be different, in their own walks of life.They now inspire a new generation of women entrepreneurs. I hope the deliberations in the summit would focus on how women entrepreneurship can be further supported. 

Ladies and Gentlemen. 

India has been an incubator for innovations and entrepreneurship over the ages. The ancient Indian treatise, Charaka Samhita, introduced the world to Ayurveda.Yoga is another ancient Indian innovation.The entire world now comes together, to celebrate Yoga Day on 21st June every year.Many entrepreneurs are involved in promoting Yoga, spirituality,traditional Ayurvedic medicinal and herbal products. 

The digital world we live in today is based on the binary system, the foundation of computing. The invention of zero and its recognition as a number, which laid the foundation of this binary system, happened with Aryabhatta’s work in India.Similarly, many nuances of modern day economic policy, taxation system,and public finance policies are outlined in our ancient treatise  Arthashastra by Kautilya. 

Ancient India’s expertise in metallurgy and minting of coins is also well known.Our many ports and harbours andthe world’s oldest dockyard at Lothalbear evidence to vibrant trade linkages. The tales of Indian voyagers travelling to foreign lands reflect the entrepreneurial character and spirit of our forefathers.

What are the core qualities that distinguish an entrepreneur? 

An entrepreneur uses knowledge and skills to fulfil a motive.Entrepreneurs see opportunity in adversity. They try to meet felt needs by making processes more convenient and comfortable for the end user.They are patient and determined.Swami Vivekananda had said “Each work has to pass through three stages – ridicule, opposition, and then acceptance. Those who think ahead of their time are sure to be misunderstood." Most entrepreneurs would be familiar with this.

The power to think differently and ahead of the times for the betterment of mankind is what sets entrepreneurs apart.I see that power in India's young generation today. I see 800 million potential entrepreneurs who can work towards making the world a better place.

The number of smartphone users in Indiais projected to grow to over 500 million by 2018. This offers immense  potential for the growth of any entrepreneurial venture, in terms of outreach and job creation.

Our Start-Up India programme is a comprehensive action plan to foster entrepreneurship and promote innovation.It aims to minimize the regulatory burden and provide support to startups. Over 1200 redundant laws have been scrapped, 87 rules for FDI have been eased in 21 sectors, and several government processes have been taken online.

Our government has taken several steps to improve the business environment. The jump in India’s ranking in the World Bank’s Ease of Doing Business Report,from 142 to 100, in three years,is a result of this.

We have improved on indicators like dealing with construction permits,getting credit, protecting minority investors, paying taxes, enforcing contracts and resolving  insolvency.

The process is yet not complete. This is an area where we are not satisfied with 100. We would strive towards 50.

We have launched the MUDRA scheme to provide easy finance of upto one million rupees to entrepreneurs. Since its launch in 2015,over 90 million loans worth 4.28 trillion rupees have been sanctioned.Of these, more than 70 million loans have been sanctioned to women entrepreneurs

My government has launched the “Atal Innovation Mission”. We are opening Tinkering Labs in more than 900 schoolsto promote a culture of innovation and entrepreneurship among children. Our “Mentor India” initiative engages leaders to guide and mentor students through these tinkering labs.In addition,19 incubation centers have been created in various universities and research institutions. These will nurture innovative start-up businesses to become scalable and sustainable.

We have created Aadhaar - the world’s largest biometric based digital database. This currently covers over 1.15billion people and digitally authenticates over 40 million transactions daily.We now digitally provide monetary benefits of various government schemes to the beneficiaries through Direct Benefit Transfer using Aadhaar.

Almost 300 million bank accounts with deposits of over 685 billion rupees have been opened through the Jan Dhan Yojana. These bring previously un-banked sections of societyinto the formal financial system.Of these, 53 per cent accounts are of women.

We are steadily working towards a less cash economy and have launched a Unified Payment Interface App called BHIM. In less than a year,this platform is facilitatingalmost 280 thousand transactions daily.

Having almost completed our programme to connect all villages with electricity, we have launched the Saubhagya scheme. This will provide electricity connections to all families by December 2018.

We have launched a programme to provide high-speed broad-band internet to all rural areas by March 2019.

Under our clean energy programme, in just 3 years, we have doubled the renewables capacity from 30 thousand Megawatts to about 60 thousand Megawatts. Solar energy generation has increased over 80 percent in the last year. We are working on developing a national gas grid.  A comprehensive national energy policyis also in the pipe-line.

Our Swachh Bharat Mission to improve sanitation and cleanliness, and the rural and urban housing missions under-line our commitment towards dignity of life.

Our infrastructure and connectivity programmes like Sagarmala and Bharatmala offer entrepreneurs many business opportunities for investment.

Our recent World Food India initiativehelped us engage with entrepreneurs in the food processing industry and agricultural waste sectors.

My government understands that an environment of transparent policies and a rule of law providing a level-playing field are necessary for entrepreneurship to flourish.

A historic overhaul of the taxation system has been recently undertaken, bringing in the Goods and Services Tax across the country. Our Insolvency and Bankruptcy Code introduced in 2016 is a step towards ensuring timely resolution for stressed ventures.We have recently strengthened this further, preventing willful defaulters from bidding for stressed assets.

Tough measures have been adopted to tackle the parallel economy,check tax evasion and control black money.

Our efforts have been recognized by Moody’s recent upgrade of India’s government bond ratings from Baa3 to Baa2. This upgrade comes after a gap of almost 14 years.

India has improved from its rankfrom 54 in 2014 to 35 in 2016 on the World Bank’s Logistics Performance Index.This signifies the relative ease and efficiency with which products can be moved into and from a country.

An investment-friendly environment needs to be stable from the macro-economic perspective.We have succeeded in containing the fiscal and current account deficits, and curbing inflation. Our foreign reserves have crossed 400 billion dollars, and we continue to attract large foreign capital flows.

To my young entrepreneur friends from India, I would like to say:each of you has something valuable to contribute towards creating a New India by 2022. You are vehicles of change and instruments of India’s transformation.

To my entrepreneur friends from across the globe, I would like to say: Come, Make in India, Invest in India - for India, and for the world. I invite each one of you to become a partner in India’s growth story. And once again assure  you of our whole-hearted support.

I am informed that President Trump has declared November 2017 as National Entrepreneurship Month. America has also observed National Entrepreneurs’ Day on November 21st. This summitwill certainly resonate with those themes.Let me conclude by wishing you fruitful, engaging and rewarding deliberations at this summit.

 

 

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PM Modi's interview to News X
May 21, 2024

In an interview to News X, Prime Minister Modi addressed the issue of toxic language in elections, explained why the Opposition frequently discussed him, and shared his views on job creation. He criticized the Congress' tax plans and appeasement politics.

Rishabh Gulati: A very warm welcome to the viewers of NewsX and India News. I’m Rishabh Gulati and with me is Aishwarya Sharma of The Sunday Guardian and Rana Yashwant. In today’s special episode, we proudly welcome a renowned ‘rashtra sevak’, and the Prime Minister of India in this Amrit Kaal, Hon’ble Shri Narendra Modi. Mr Prime Minister, you took the time to speak to us, we are very grateful.

Prime Minister: Namaskar, my warm greetings to all your viewers.

 

Rishabh Gulati: Mr Prime Minister, the first question that comes to mind is about the Opposition, and it seems that the biggest item on their poll agenda is Narendra Modi. Why, in your opinion, do they talk so much about Narendra Modi?

Prime Minister: To understand why they discuss Narendra Modi, we must first understand the Opposition. To understand them, one can examine the administration between 2004 and 2014.

The Opposition has not been able to play a strong role. Even as the Opposition, the way they are falling apart, they did not play a constructive role of any kind. Despite deep discussions, they haven’t been able to bring serious issues to the public attention. They thought that by their antics, taking up space in the media, they would be able to keep their boat afloat. Even in this election, I have seen that they make fresh attempts every day to acquire media space, be it by making videos, nonsensical statements, or behaving in a way that people don’t normally behave. So they do this to acquire space in the media. Now abusing Modi is one such antic, where, if nothing else, they are guaranteed publicity. Even a small-time politician, if he bad-mouths me, will get about an hour of media attention. Perhaps they see Modi as a ladder to climb up in their political career.

 

Aishwarya Sharma: Mr Prime Minister, the I.N.D.I. alliance is talking about wealth redistribution. Do you think this is possible, and will the voters of the country be influenced by such a scheme?

Prime Minister: You can’t examine this in isolation. You must look at their overall thought process. When their (Congress) manifesto was released, I had said the manifesto had the imprint of the Muslim League. There was a statement made by Dr Manmohan Singh… I had attended the meeting in which he said that ‘Muslims have the first right to India’s resources.’ Now when I raised this in public, their media ecosystem raised a storm saying that ‘Modi is lying,’. So two days later, I brought Manmohan Singh’s press conference forward and put it in front of them. Then they stopped talking. So this was one example. Now in their Manifesto, they have said that they will give reservation (to Muslims) even when allotting government contracts.

So today, when a bridge is to be built somewhere, what is the criteria for awarding the contract? The company bidding is evaluated based on how resourceful they are, their experience, their capability, their ability to deliver on time, all these things. Now they say that they want to give reservations to the minorities, to the Muslims, in this process as well. It all adds up. Now when they say that they will impose inheritance tax, it means that taxes that go to the government, who will stand to benefit from it? It’s the same people that Manmohan Singh ji talked about. If you join the dots, this is the logic that comes from it. How will the country accept this? Secondly, has any developing country in the world indulged in such madness? Today, India needs to work hard to rise above its problems. We have made this attempt and pulled 25 crore people out of poverty. Where there used to be a few hundred start-ups, there are now over 1.25 lakh start-ups, and there are Unicorns. You must go among the people and work with energy, and that will bring the right result.

 

Rana Yashwant: Mr Prime Minister, the Ram Mandir has been built in Ayodhya, the consecration of Ram Lalla took place and there was joy among the people. In all this, there is Iqbal Ansari, who has fought the legal battle, and is an important person. He comes, holding a placard that says ‘Modi ka Parivaar’. Today, the minority community identifies with your policies and welfare schemes. Your opinion?

Prime Minister: Since you’ve brought up Ram Mandir and Iqbal Ansari, I will narrate an incident. Ram Mandir should have been built right after Independence. In all these years, it wasn’t built because they (Congress) felt it would affect their vote bank. Attempts were made in the Courts till the very end to stop it. It is a fact that Congress hindered the building of the Ram Mandir. Despite this, when the Supreme Court judgment came through, the Court constituted a trust, and the trust members, let go of all past differences and went to invite the Congress Party members to the consecration ceremony. They rejected the invitation. The same people went to invite Iqbal Ansari. The ironic thing is, that Iqbal Ansari, who fought the Babri Masjid case his entire life, respected the Supreme Court’s verdict and attended the ‘Shilanyas’ and the ‘Pran Prathistha’ ceremony as well. This is what I think, as far as Iqbal Ansari is concerned.

Now if you want to talk about secularism, it is my very serious allegation, that for over 75 years, through a very well-crafted conspiracy, a false narrative has been fed to the nation. It has been embedded in the nation from before our birth. Sardar Patel was targeted by this narrative, and maybe, today it may be my turn, tomorrow someone else… Why do they cry out ‘secularism’ over and over again? It’s because they want to divert the world’s attention from their communal activities.

They cry ‘thief’ over and over when they have defrauded the people, and they do this because they think crying ‘thief’ will divert the public’s attention. This is their ploy. I have called them out in front of everyone, that they are the ones who are communal. India’s constitution does not allow you to indulge in such sectarian acts, and I have brought out several such examples, like I mentioned earlier that they called the Muslims the rightful inheritors of India’s wealth. I am exposing them. They (Congress) hide behind their politics of appeasement and instead accuse me of being communal. I am talking about those communal parties that wear the ‘nikab’ of secularism and indulge in hardcore communalism. I find three things common among these people. They are hardcore sectarians, they are extremely casteist, and they are hardcore dynasts. They are so full of these three things that they can’t come out of it.

 

Rishabh Gulati: Mr Prime Minister, you have spoken about lifting 25 crore people out of poverty. 80 crore poor people are receiving ration – it is necessary now and will be so in the future as well. What do you have to say about how crucial it will be in the future?

Prime Minister: When Manmohan Singh ji was the Prime Minister, news was rife with reports of food grains getting spoilt. So, the Supreme Court asked the government as to why the grains were not being distributed among the poor. Manmohan Singh ji, who was the Prime Minister then, stated on record that they could not distribute the grains and that it was impossible to do it. That is the consequence of his thinking. I faced the same issue, especially during COVID-19. My first goal was to ensure that a stove should be lit in every poor household. So, I started working on it. I have stated this for the next five years as well because in the lives of those who come out of poverty…

For example, one returns home from the hospital. The treatment has been done but precaution is necessary. A doctor advises you to take rest for a particular duration after returning home, tells you what to eat and what to refrain from consuming, and what to take care of. Why? The illness has already been addressed, but if anything is jeopardized then the condition of the person would return to what it was. That is why poor people who escape poverty need handholding. They should not return to that state in any condition. Once they escape poverty, they should be empowered to stand strong. In my understanding, in the next five years, those who have escaped poverty should be able to firmly stand on their feet. Any unfortunate incident in their family, should not push them to poverty again. And only then will the country eradicate poverty.

 

Aishwarya Sharma: Mr Prime Minister, our country is the youngest country. Under your tenure, 10 lakh government jobs have been filled. Now, the Opposition has vowed to fill 30 lakh government jobs. In your third term, how do you plan to boost employment opportunities for the youth?

Prime Minister: You must have read the SKOCH report that was released. I hope your TV channel studies the SKOCH report in detail and conducts a TV debate on this. They have analysed some 20 to 22 schemes of the government. They have published statistics about how many person-year-hours have been obtained. They have revealed how many hours it takes to build 4 crore houses and how many people it employs. They have published data for about 22 different parameters.

They have stated that 50 crore people have accrued benefits. Secondly, we brought the Mudra Yojana. We give bank loans without any guarantee. We have disbursed loans worth Rs 23 Lakh Crore. 80% of those who have received these loans are first-timers. Some have started their businesses and have employed a few people in this process. Start-ups used to be in the thousands and now they are in lakhs. People have been employed in this process, right? Consider that a 1000-kilometre road is being built and think about how many jobs are created. So, if a 2000-kilometre road is being built more people will be employed, right? Today, road and rail construction has doubled, electrification has doubled, and mobile towers are reaching every corner of India. All this is being created by people who have received jobs. That is why a lie is being peddled.

 What’s important is that we must move towards creating jobs for ourselves. The youth in this country are in the mood to do something and be productive and we must help them. We must encourage them. Our Mudra Yojana does exactly that. We also run the SVANidhi scheme. There are countless street hawkers, who are poor people. But today, they are taking money from the bank to run their businesses. Due to this, they can save money and expand their business. Earlier, a street hawker would sit on the footpath and now his goal is to buy a lorry. One who would owned a lorry earlier now wishes to provide home delivery services. Their aspirations are rising. This is why I believe that while people receive the benefits of government schemes, which will eventually result in development, we must also focus on several other areas.

 

Rana Yashwant: Prime Minister, your government works on the principle of ‘Sabka Saath, Sabka Vikas’. Beneficiaries avail welfare schemes without any discrimination – caste, religion, or community. Yet, the Opposition maintains that Muslims do not accrue the same benefits from these welfare schemes.

Prime Minister: You are the first person from whom I’ve heard this. The unique aspect of my government, in terms of delivering welfare schemes, has not raised any questions regarding discrimination.

 

Rana Yashwant: The Opposition has to say this.

Prime Minister: Even the Opposition does not say this. You are the first person from whom I’ve heard this. I have never heard this from anybody because everyone knows… and Muslims themselves say that they receive all benefits.

The primary reason is that I have two principles. First, 100% saturation. For example, if poor people must be given houses, complete delivery must take place. If 100% delivery is the goal, then where does the scope of discrimination even arise? Whether it is providing gas connections, building toilets, ensuring tap water connections, I believe in 100% delivery. Yes, some people will receive the benefits in January, some in April and some in November, but the scheme will apply to all and 100%. I believe that true secularism is when 100% delivery is done. Social justice is when 100% is done. So, if my mission is 100% saturation… and nobody has made this charge yet. They don’t have the courage to say it. I have lived in Gujarat as well, and on this topic, nobody can prop up any charges against me.

 

Rishabh Gulati: Mr Prime Minister, you have taken out time to sit with us and relay your ‘Mann Ki Baat’. Thank you so much. Best of luck for the polls ahead.

Prime Minister: I thank you all. I have been campaigning day and night…

 

Rana Yashwant: You are constantly on the move. We see you morning until night on the run…

Rishabh Gulati: Today, you had a big rally at 8 in the morning.

Prime Minister: I started my day at 6 am and went to Jagannath Puri temple to offer my prayers. Since then I have been traveling and have at last got time to meet you.

 

Rana Yashwant: Where ever you go, Jagannath or Kashi, there is a sea of people that comes to greet you. You have experienced it yourself.

Prime Minister: I realise that my responsibilities are now increasing. I also see that the public has taken ownership of elections. Political parties are not fighting the elections. The public has taken ownership of this election. And the results will be as desired by the public.

Thank you!