On Tuesday 8th September 2015, the Prime Minister, Shri Narendra Modi, interacted with leading economists, top bankers and industry representatives on recent global economic events, and opportunities for India.
Delegates emphasized that India is today seen as the bright spot in the global economy. They highlighted the importance of subjects such as focusing on infrastructure, job creation, improving ease of doing business; recent government initiatives including Make in India, Digital India, Jan Dhan Yojana and Direct Benefit Transfers; and sector-specific subjects such as in the areas of agriculture, agri-infrastructure, food processing, pharmaceuticals, renewable energy etc.
They underlined the need to use the current global environment to ensure long-term energy security through suitable policy interventions. The participants stressed on the need to create a viable ecosystem for Start-Ups and self-employment to flourish.
Overall, the conclusion was that the current situation is a major opportunity for India, which should be seized.
The Prime Minister appreciated the constructive atmosphere and enthusiasm among the delegates. He said this brainstorming session was the first such interaction. It was an occasion to deliberate on our own roadmap in the present situation. This would also greatly help the Government in policy-making. He identified agriculture, ocean economy and space as important areas with huge economic potential for India. He said India has huge potential for capacity enhancement for the global knowledge economy.
The Prime Minister outlined the steps that the Government has taken for facilitating growth of Start-Ups in the economy, including the setting up of the MUDRA Bank. He also stressed on the steps being taken by the Union Government to boost skill development for the 65 percent of the population below 30 years of age.
The Prime Minister urged the Captains of Industry to take the lead in setting up "innovation and skill hubs" which could boost start-ups in their respective sectors of business. The Prime Minister urged Indian Industry to show greater appetite for risk-taking, and to boost their contribution to domestic investment.