PM addresses the Confederation of Indian Industry (CII) Annual Meeting 2021

Published By : Admin | August 11, 2021 | 16:30 IST
Major responsibility for the success of the self-reliant India campaign lies on Indian industries: PM
India, which was apprehensive of foreign investment, is welcoming investments of all types today:PM
Today the trust of the countrymen is with the products made in India: PM
It is the result of the country's faith in our industry that the ease of doing business and the ease of living is improving. Changes made in the Companies Act bear this out: PM
Today there is a government in the country which is ready to take the biggest risk in the interest of the nation, previous Governments could not muster up the courage to take political risks:PM
This government is able to undertake difficult reforms because for this government reforms are a matter of conviction not compulsion: PM
Abolition of Retrospective Taxation will strengthen the trust between the government and the Industry: PM

Prime Minister Shri Narendra Modi addressed the Confederation of Indian Industry (CII) Annual Meeting 2021 today via video conferencing. During the meeting, the industry leaders appreciated the Prime Minister’s commitment towards reforms in various sectors, in order to achieve the goal of a $5 trillion economy.  Speaking on the theme of the meeting ‘India@75: Government and Business working together for AatmaNirbhar Bharat’, they gave inputs and suggestions to overcome infrastructural challenges, enhance manufacturing capacity, make the financial sector more vibrant, boost the technical prowess of India to attain a leadership position in the technology sector, among other things.

Addressing the gathering, the Prime Minister said that this CII meeting is taking place on the eve of the 75th Independence Day, in the midst of the Azadi ka Amrit Mahotsav. He said this is a huge opportunity, for new resolutions and for new goals of the Indian industry. He added that the major responsibility for the success of the self-reliant India campaign lies on Indian industries. The Prime Minister lauded the industry for their resilience during the pandemic

Shri Modi asked the Industry to take full advantage of the atmosphere of trust for India’s development and capabilities. Making a note of the changes in the approach of the current government and change in the ways of working of the current setup, the Prime Minister stressed that the new India of today is ready to march with the new world. India, which was apprehensive of foreign investment at one point of time, is welcoming investments of all types today. Similarly, tax policies used to induce despondency among the investors, the same India can boast of the world’s most competitive corporate tax and faceless tax system. Red-tapism of the past has been replaced by a significant rise in the ease of doing business index. Similarly, rationalization of the maze of labour laws into 4 labour codes; agriculture, which was treated as a mere means of livelihood, is being connected with the markets through reforms.  As a result India is getting record FDI and FPI. Forex reserves are also at an all time high level, informed the Prime Minister.

There was a time when foreign was synonymous with better. Industry big-wigs understand the consequences of such a psychology. Situation was so bad that even indigenous brands developed with great hard work were advertised with foreign names. The Prime Minister said, today the situation is changing rapidly. Today the trust of the countrymen is with the products made in India. He said that today every Indian wants to adopt products made in India though the company making those products might not necessarily be Indian.

The Prime Minister said today, when the Indian youths enter the field, they do not have that hesitation. They want to work hard, take risks and bring results. He said that the youth are feeling that we belong to this place. Similar confidence is in India's startups today. The Prime Minister highlighted that today India has 60 unicorns as opposed to, possibly, 3-4  unicorns 6-7 years ago. Out of these 60 unicorns, 21 emerged during the last few months. The unicorns, with their diversity of sectors indicate changes in India at every level. Investor response has been tremendous for those startups and this signals that India has extraordinary opportunities for growth.

He said that this is the result of the country's faith in our industry that the ease of doing business and the ease of living is improving. He cited the changes made in the Companies Act as an apt example of this.

The Prime Minister emphasized that the government is able to undertake difficult reforms because for this government reforms are a matter of conviction not compulsion. Referring to the initiatives taken during the Parliament session like The Factoring Regulation amendment Bill, will help small businessmen to get credit. The Deposit Insurance and Credit Guarantee Corporation Amendment Bill will protect the interests of small depositors. Such measures will give a boost to the government’s efforts, said the Prime Minister.

The Prime Minister said that by rectifying the mistakes of the past, the government did away with the Retrospective Taxation. Going by the praise by the industry, the initiative will strengthen the trust between the government and the Industry. Said the Prime Minister.

The Prime Minister remarked that today there is a government in the country which is ready to take the biggest risk in the interest of the nation. He emphasized that GST was stuck for so many years only because the previous Governments could not muster up the courage to take political risks. He said we are not only implementing GST but today we are also witnessing record GST collection.

 

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English Translation of Foreign Secretary's statement on the telephone conversation between PM and US President
June 18, 2025

Prime Minister Modi and President Trump were scheduled to meet on the sidelines of the G7 Summit. However, President Trump had to return to the U.S. early, due to which this meeting could not take place.

After this, at the request of President Trump, both leaders spoke over a phone call today. The conversation lasted approximately 35 minutes.

President Trump had expressed his condolences to Prime Minister Modi over a phone call after the terrorist attack in Pahalgam on April 22. And he also expressed his support against terrorism. This was the first conversation between the two leaders since.

Hence, Prime Minister Modi spoke in detail about Operation Sindoor with President Trump.

Prime Minister Modi told President Trump in clear terms that after April 22, India had conveyed its determination to take action against terrorism to the whole world. Prime Minister Modi said that on the night of May 6-7, India had only targeted the terrorist camps and hideouts in Pakistan and Pakistan occupied Kashmir. India’s actions were very measured, precise, and non-escalatory. India had also made it clear that any act of aggression from Pakistan would be met with a stronger response.

On the night of May 9, Vice President Vance had made a phone call to Prime Minister Modi. Vice President Vance had conveyed that Pakistan may launch a major attack on India. Prime Minister Modi had conveyed to him in clear terms that if such an action were to occur, India would respond with an even stronger response.

On the night of May 9-10, India gave a strong and decisive response to Pakistan’s attack, inflicting significant damage on the Pakistani military. Their military airbases were rendered inoperable. Due to India’s firm action, Pakistan was compelled to request a cessation of military operations.

Prime Minister Modi clearly conveyed to President Trump that at no point during this entire sequence of events was there any discussion, at any level, on an India-U.S. Trade Deal, or any proposal for a mediation by the U.S. between India and Pakistan. The discussion to cease military action took place directly between India and Pakistan through the existing channels of communication between the two armed forces, and it was initiated at Pakistan's request. Prime Minister Modi firmly stated that India does not and will never accept mediation. There is complete political consensus in India on this matter.

President Trump listened carefully to the points conveyed by the Prime Minister and expressed his support towards India’s fight against terrorism. Prime Minister Modi also stated that India no longer views terrorism as a proxy war, but as a war itself, and that India’s Operation Sindoor is still ongoing.

President Trump enquired if Prime Minister Modi could stop over in the U.S. on his way back from Canada. Due to prior commitments, Prime Minister Modi expressed his inability to do so. Both leaders agreed to make efforts to meet in the near future.

President Trump and Prime Minister Modi also discussed the ongoing conflict between Israel and Iran. Both leaders agreed that for peace in the Russia - Ukraine conflict, direct dialogue between the two parties is essential, and continued efforts should be made to facilitate this.

With regard to the Indo-Pacific region, both leaders shared their perspectives and expressed their support towards the significant role of QUAD in the region. Prime Minister Modi extended an invitation to President Trump to visit India for the next QUAD Summit. President Trump accepted the invitation and said that he is looking forward to visiting India.