PM addresses Economic Times Global Business Summit

Published By : Admin | March 6, 2020 | 19:41 IST
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The Prime Minister, Shri Narendra Modi addressed the Economic Times Global Business Summit today. Broad theme of the Global Business Summit 2020 is  ‘Collaborate to Create: Sustainable Growth in a Fractured World’.

Addressing the delegates from around the world, the Prime Minister said that the vision of Collaborate to create for Sustainable Growth, is a need of the day and also the basis for the future. “The idea of ​​Collaborate To Create is as old as it is relevant,” he added.  He stressed that new challenges emerge in every era which further strengthens our spirit of Collaborate To Create. He said today, a huge challenge in the form of "Covid-19 Novel Coronavirus" is in front of the world. “We have to face this challenge together and emerge victorious with the resolve power of Collaborate To Create,” he added.

The Prime Minister said there was a time when things used to run according to the predictions of a particular class and their opinion was considered to be the final. But with the development of technology and the 'Democratization' of Discourse, now Opinion Matter is done by people of every section of society, he added.

The Prime Minister said the path in front of us was to walk on the same path as has been going on before, or to make our own path. We created a new route, moved ahead with a new approach and gave the highest priority to people's aspirations, he added.

Shri Modi emphasized that there is no harm in saying the right thing. But a class is hated, irritated by those who follow Doing the Right Things. So when there is a change in the Status Quo, such people start to see some kind of disruptions, he added.

PM contrasted that those who enlighten the world about refugee rights oppose the CAA for refugees. Those who cry for the constitution day and night, oppose the implementation of the constitution in Jammu and Kashmir, for removing the temporary system like Article 370.

Referring to the quote in RamcharitManas “It's easier to preach than really act”, the Prime Minister said nation building, development of the country, governance are conviction and not convenience. “Conviction To Do The Right Thing, Conviction To Break The Status Quo,” he added.


The Prime Minister listed the actions taken by the government to free all the systems of the country from the imprisonment of old ideas and the Convenience of Inaction, like DBT, RERA legislation, IBC, Mudra scheme, creation of the post of Chief of Defense Staff, giving 10 percent reservation to the poor of the general class.

The Prime Minister said since 2014, the country has moved ahead with Cooperation in Spirit, Collaboration in Action and Combination of Ideas. “Today, India is creating a model of Sustainable Growth, which is beneficial for the whole world. 21st century India is learning a lot and is equally ready to benefit the development of the people of the country,” he added.

The Prime Minister listed out the achievements which were clearly visible in different sectors in the last six years, like the pace of Highways Construction, the pace of Railway electrification, capacity addition in airports, increased cargo handling at our Major Ports and reduced turnaround time at Major Ports. The Prime Minister stressed that this was achieved by removing silos in government departments and emphasizing collaboration.

The Prime Minister said that economic or social, today the country is going through a big phase of change. In the last few years, India has become an even stronger part of the Global Economy System in spite of the weak Global Economy, he added. “Recently, India has become the 5th largest economy in the world. Just 6-7 years ago we were at number 11. In such a short time we have come to 5th,” he said.

The Prime Minister announced the government is working at four different levels to achieve the goal of an economy of $ 5 trillion. 

First - Connect with private sector

Second-Fair Competition

Third- Wealth Creation

And fourth - Deletion of Archaic Laws

He further said that the Government has prepared a roadmap for investment of more than Rs 100 lakh crore in the field of infrastructure and chosen a path of Powerful Progressive Push (PPP) for the development of the country through Public-Private Partnership (PPP) !!! “Government is opening more and more sectors of the economy to the private sector,” he added. He said that to enhance Fair Competition, both Corruption and Cronyism are strictly dealt with.  He stressed that the Government has focused on Simplification, Rationalization, Transparency. The Prime Minister said that today, India is among the major countries in the world where Corporate Tax is the lowest and has improved 77 ranks in Ease of Doing Business's rankings in just 5 years. “In 2019, the Foreign Direct Investment of about 48 Billion Dollar came in the country. This growth was more than 16 percent. Similarly, Private Equity and Venture Capital Investment of 19 Billion Dollars came to India last year. It also grew more than 53%,” he added.

The Prime Minister said that the government is in constant contact with all stakeholders, taking feedback continuously, taking major decisions at every level. By liberating the country from the status quo, we are moving towards creation by cooperation not only at the national level but also internationally, he added. The Prime Minister also listed out the role of India in building international level institutions like International Solar Alliance, Coalition for Disaster Resilient Infrastructure.

The Prime Minister said that the 21st century itself is full of many possibilities. “Amidst these possibilities, there is a lack of a Common Global Voice today. Today, the question before the whole world is to somehow adjust to the changing circumstances or to develop a new path in a new way,” he added.

The Prime Minister said that in the midst of changing global conditions, India has also made very wide changes. There was a period when India was neutral by creating equal distance between countries. Even today India is neutral, but by equal friendship, he added. “Keeping distance in that period, an attempt was made to escape. Today, we are trying to keep friendship and walk together. This is the very essence of India's foreign policy, today's economic policy of India,” he added.

The Prime Minister concluded with the quote of Mahatma Gandhi ji "I want the rise of India so that the whole world can benefit from it" and said that this quote has the Indian thinking of Globalisation and the mantra of collaboration for the future.


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