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Indian economy is recovering at a swift pace and economic indicators are encouraging: PM Modi
World's confidence in India has strengthened over the past months, record FDIs have been received: PM
India has recived global recognition for its direct benefit transfer scheme, especially during the pandemic: PM
The new agri reforms will bring in more investment in the sector and farmers will benefit the most from it: PM Modi

Namaskar!

FICCI President SangitaReddyji, Secretary General DilipChenoyji, friends in Indian industry, ladies and gentlemen!!

In the match of 20-20, we have seen a lot of things changing rapidly. But the year 2020 has defeated all. The nation and the entire world went through so many ups and downs thatwhen we'll think of the corona period a few years later, perhaps we won't believe it. But, it's good that the situation which deteriorated so fast, is improving swiftly also. When this cycle of pandemic began in February-March, we were up against an unknown enemy. There were many uncertainties. Whether it’s the production, logistics, or revival of the economy, there were many issues. Everybody had this question in his mind: how long will it continue and how the situation will improve. The entire mankind of the world was grappling with these questions, challenges and concerns. But now in the month of December, the situation has changed a lot. We have the answer as well as the roadmap. The indicators of the economy are very encouraging. The lessons that the country learnt during the crisis have firmed up its resolve for the future. And, indeed, a huge credit for it goes to entrepreneurs, the young generation, farmers, industrialists and all the people of India.

Friends,

There is always a history and a lesson associated with global pandemic. The country which manages to save more and more of its citizens during such a pandemic has the power to rebound with the same speed. During this pandemic, India gave utmost priority to the lives of its citizens, saved the lives of most of the people and the result is there before the country and the world as well. The world is surprised at the way India has worked collectively in the last few months, made policies and decisions and brought the situation under control. The faith of the world towards India in the last six years has been further strengthened in the last few months. Whether it is FDI or FPI, foreign investors have made record investments in India and are continuously doing so.

Friends,

Today, every citizen of the country is committed to make the AtmaNirbhar India campaign a success and is working towards Local for Vocal. This is a living example of how much confidence the country has on the capability of its private sector. India’s private sector can not only meet our domestic needs, but can also establish its identity globally forcefully.

Friends,

The AtmaNirbhar India campaign is also a medium to make quality products in India and make Indian industry more competitive. And when I got the opportunity to address from the ramparts of Red Fort in 2014 for the first time, I had said that our goal should be zero defect; zero effect.

Friends,

Experience has it that the policies in the past have protected inefficiency in several sectors and have prevented new experiments, whereas, the AtmaNirbhar India campaign encourages efficiency in every sector. Emphasis is being given on sectors where India has long-term comparative advantage and sunrise and technology-based industries. We want that our infant industries also become more strong and independent in future. Therefore, you must have noticed, another important step has been taken. A production-linked incentive scheme has been launched in the country. This scheme is for the industries where India has the capacity to become a global champion. Anyone will be entitled to incentives who will perform, who will work with efficiency and who will make India self-reliant in the sector he is involved in. Friends, we often see a paradox whether it is in life or governance. A confident person does not hesitate in giving space to others. But the one who is insecure is afraid to give opportunities to the people around him too.This is often the case with governments. The government backed by the overwhelming support and confidence of the people has its own confidence and dedication, and,therefore, the government is committed to realize the mantra of SabkaSaath, SabkaVikas, SabkaVishwas. A decisive government always strives to remove obstacles for others. A decisive government always tries to contribute maximum towards the society and the nation. A decisive and self-confident government also does not want all the control with itself and does not let others do anything. You all have been witness to this approach of the previous governments and the country has been its victim. What was the thinking – the government will do everything. Whether it is the manufacture of watches, scooters, TVs, or even bread and cake, the government used to make everything. We have seen the ruin brought about by this approach. On the contrary, a visionary and decisive government encourages all the stakeholders so that they can realize their potential fully.

Friends,

In the last six years, India has seen the government which is only committed to realize the dreams of the 130 crore people of the country and is encouraging people in all sectors. Today, India is endeavouring to increase the partnership of every stakeholder in every sector. With this approach, the all-round reforms have been undertaken in sectors ranging from manufacturing to MSME; agriculture to infrastructure; from tech industry to taxation and from real estate to regulatory easing.In India, the Corporate Tax is the most competitive in the world today. Today, India is among the few countries in the world that boast of faceless assessments and faceless appeals. Leaving behind the era of Inspector Raj and tax terrorism, India is moving ahead by relying on the capabilities of the entrepreneurs of our country. In a way, a tradition of countless opportunities has been created in mining, defence, space, andinvestment in most of the sectors. Emphasis is being given on Multimodal Connectivity to make logistics competitive in the country.

Friends,

When a sector grows in a vibrant economy it has direct bearing on other sectors. But can you imagine what will happen if a wall is created between the industries unnecessarily. No industry will be able to grow according to its strength. Even if an industry grows somehow, its effect will not percolate down to other sectors. Such walls in different sectors have caused tremendous damage to the people and the economy of the country. The reforms that are being undertaken in the country are meant to dismantle such walls. The recent agriculture reforms are part of this series. We have seen such walls in the agriculture sector and allied sectors like agriculture infrastructure, food processing, storage or cold chains. Now these walls are being dismantled and all obstacles removed. By removing these walls and after these reforms, the farmers will get new markets, new options, the cold storage infrastructure will become modern, and they will benefit largely from technology. It will entail huge investment in the agri-sector which will benefit the farmers of my country and who lives on small pieces of land. The economy of our country does not need walls in different sectors, but bridges so that they can support each other.

Friends,

There is an excellent example of how reforms have been undertaken in a planned and integrated approach to dismantle such walls in the last few years. It is the financial inclusion of millions of people of the country. From banking exclusion, we are now included in the most inclusive countries.You have also been witness to how Aadhaar was given constitutional protection in India by removing all barriers. We linked Unbanked to banks. We connected the poorest of the poor by making available cheap mobile data and cheap phones to them. Only then the country got the trinity of JAM – Jan Dhan accounts, Aadhaar and Mobile.

Friends,

Today, the world’s largest Direct Benefit Transfer systemexists in the country. You must have read a recent report of an international journal which praised this indigenous system handsomely. During the Corona period, citizens of many countries were facing difficulty in transferring money as they were dependent on cheques and postal departments, whereas India could transfer money in the crores of accounts through a click of button in no time, and that too when banks were closed and there was lockdown in the country. Many prominent experts in the international world are now saying that other countries should also learn from this model of India. Who will not be proud to read and hear this?

Friends,

There was a time when some people doubted how India would be able to deliver technology to its ordinary citizens in an environment of illiteracy and poverty. But India has done this and done with a lot of success and it will continue to do so. Today, on the UPI platform alone, there are transactionsworth about four lakhcrore rupees every month.Transactionsworth four lakhcrore rupees and new records are being created every month. Today, digital payments have become possible in villages and even on small street stalls. India's industry has to move forward by realizing this strength of the country.

Friends,

As we have grown up watching the atmosphere of villages and small towns in TV or films, it is natural to have a different perception about them. The physical distance between cities and villages has never been as much as the distance of perspective has been.For some people, the village means a place where it is difficult to commute, where there are very few facilities, very little development and backwardness is all around. But if you go to rural or semi-rural areas today, you will get a very different view, you will find a new hope, a new confidence. Today's rural India is undergoing a major change. Did you know that the number of active internet users in rural India has exceeded cities? Did you know that more than half of India's start-ups are in our Tier-2, Tier-3 cities? About 98 per cent of the settlements in the country have been connected with the PradhanMantriGraminSadakYojana. It means that the villagers are now increasingly connecting with markets, schools, hospitals and other facilities.The aspiration of the villagers is increasing; they want socio-economic mobility. The Government on its part is engaged in fulfilling these aspirations. Now, take for example, the recently launched PM-WANI scheme. Under the scheme, a network of public Wi-Fi hotspots will be created across the country. This will lead to a comprehensive expansion of connectivity in villages. I will urge all entrepreneurs to use this opportunity to participate in better connectivity efforts in rural and semi-rural areas.It is certain that villages and small cities will support the growth of the 21st century India. Therefore, entrepreneurs like you should not lose the opportunity of making investment in villages and small towns. The investment that you make will open new doors to our agriculture sector, for the brothers and sisters living in our villages.

Friends,

India has been steadily working in the last few years to strengthen the agriculture sector of the country. Today, India's agricultural sector has been more vibrant than ever before. Today, the farmers of India have the option to sell their crops outside the mandis as well. Today, not only the mandis are being modernized in India, the farmers are being given the option to buy and sell crops on digital platforms. The goal of all these efforts is to increase the income of the farmers and they become prosperous. When the farmers of the country prosper, the country will also prosper. I will give you another example of how the agriculture sector was being handled earlier.

Friends,

Earlier, ethanol was given the preference in our country and it used to be imported, whereas the sugarcane farmers were upset that they could not sell their sugarcane or they did not get the arrears of thousands of crores of rupees in time. We changed this situation.We have promoted the production of ethanol in the country itself. Earlier when sugar or jiggery was made, sometimes the prices of sugar would fall, the farmers did not get the money, sometimes the prices of sugar increased, the consumer suffered, that is, there was no system in place. On the other hand, we used to import petrol for our cars and scooters, which ethanol could also do. Now there is 10 per cent blending of ethanol in petrol in the country. Imagine the change it will bring about. This will not only increase the income of sugarcane farmers, but will also create new employment opportunities.

Friends,

Today, when I am among the senior industrialists, I would like to say categorically that unfortunately the private sector investment in agriculture in our country did not happen as much as it should have been. This sector was not explored as much by the private sector. We have had the problems of cold storage. The supply chains have been working in a very limited way without the support of the private sector. You have also seen that there is a shortage of fertilizer. You also know how much it is imported. The central government is continuously working to address several such challenges of the agriculture sector. But it requires both your interest and investment. I believe that many agriculture companies are doing a good job, but that is not enough.The less will be the loss to crops and the farmers income will also increase if more support of the modern technology, the modern business techniques are available to the farmers who grow crops, fruits and vegetables and the investment that we make according to their requirements. Today, there is a huge scope for agro-based industries in the rural sector. Whatever the earlier policies may have been, but today's policies are very conducive to developing a rural agro-based economy. With policy and intentions, the Government is fully committed to the interests of the farmers.

Friends,

We have to invest energy in finding ways to make agriculture, service, manufacturing and social sectors complement each other. Organizations like FICCI have to be both a bridge and inspiration in this regard. MSMEs have been empowered by the government, you can multiply this strength.We all have to work together with a goal to strengthen the local value and supply chain and how to expand India's role in the global supply chain. India has market, manpower and also the capability to work in mission mode.Even in this era of pandemic, we have seen how every step of Indiatowards self-sufficiency benefits the whole world. Our pharma sector did not allow the global supply chain to be affected even in difficult times. Now that India is moving ahead in vaccine manufacturing, it will give a protective cover to millions of lives in India, and there is a new hope in many countries of the world.

Friends,

We are all familiar with one mantra and it is also necessary for our lives. It is said: तन्मे मन: शिवसंकल्प मस्तु, i.e., my mind should have exquisite resolutions. We have to move ahead with this spirit. The country's goals, resolutions and policies are crystal clear. India's intentions on reforms, whether it is infrastructure or policy, are firm. Whatever speedbreaker came in the form of the epidemic, we are now going beyond that. Now, we all have to work harder than before with new beliefs. We now have to move forward in the new decade with trust and self-confidence. The country will celebrate its 75th years of independence in 2022. FICCI has also played a major role in the country's march towards growth since the freedom movement. Even 100 years of FICCI are not too far away. At this important stage, you have to further expand and broaden your role of nation building.Your efforts will give momentum to the AtmaNirbhar India campaign. Your efforts will take the mantra of Local for Vocal to the entire world. Finally, I congratulate Dr. SangitaReddyji for her excellent tenure as President. At the same time, I convey my best wishes to UdayShankarji for the future. I thank you all very much for the opportunity to be with you.

Thanks!

Modi Govt's #7YearsOfSeva
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Fact Sheet: Quad Leaders’ Summit
September 25, 2021
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On September 24, President Biden hosted Prime Minister Scott Morrison of Australia, Prime Minister Narendra Modi of India, and Prime Minister Yoshihide Suga of Japan at the White House for the first-ever in-person Leaders’ Summit of the Quad. The leaders have put forth ambitious initiatives that deepen our ties and advance practical cooperation on 21st-century challenges: ending the COVID-19 pandemic, including by increasing production and access to safe and effective vaccines; promoting high-standards infrastructure; combatting the climate crisis; partnering on emerging technologies, space, and cybersecurity; and cultivating next-generation talent in all of our countries.

COVID and Global Health

Quad leaders recognize that the most immediate threat to lives and livelihoods in our four countries and the world is the COVID-19 pandemic. And so in March, Quad leaders launched the Quad Vaccine Partnership, to help enhance equitable access to safe and effective vaccines in the Indo-Pacific and the world. Since March, the Quad has taken bold actions to expand safe and effective COVID-19 vaccine manufacturing capacity, donated vaccines from our own supply, and worked together to assist the Indo-Pacific in responding to the pandemic. The Quad Vaccine Experts Group remains the heart of our cooperation, meeting regularly to brief on the latest pandemic trends and coordinate our collective COVID-19 response across the Indo-Pacific, including by piloting the Quad Partnership COVID-19 Dashboard. We welcome President Biden’s September 22 COVID-19 Summit, and acknowledge that our work continues. The Quad will:

Help Vaccinate the World: As Quad countries, we have pledged to donate more than 1.2 billion vaccine doses globally, in addition to the doses we have financed through COVAX. To date we have collectively delivered nearly 79 million safe and effective vaccine doses to the Indo-Pacific region. Our Vaccine Partnership remains on track to expand manufacturing at Biological E Ltd. this fall, so that it can produce at least 1 billion doses of COVID-19 vaccines by the end of 2022. As a first step towards that new capacity, the leaders will announce bold actions that will immediately help the Indo-Pacific in its quest to end the pandemic. We recognize the importance of open and secure supply chains for vaccine production. The Quad welcomed India’s announcement to resume exports of safe and effective COVID-19 vaccines, including to COVAX, beginning in October 2021.

Through $3.3 billion in the COVID-19 Crisis Response Emergency Support Loan program, Japan will continue to help regional countries to procure safe, effective, and quality-assured vaccines. Australia will deliver $212 million in grant aid to purchase vaccines for Southeast Asia and the Pacific. In addition, Australia will allocate $219 million to support last-mile vaccine rollouts and lead in coordinating the Quad’s last-mile delivery efforts in those regions. Quad member countries will coordinate with the ASEAN Secretariat, the COVAX Facility, and other relevant organizations. We will continue to strengthen and support the life-saving work of international organizations and partnerships, including the WHO, COVAX, Gavi, CEPI, and UNICEF; and national governments. At the same time, the leaders are fully committed to strengthening vaccine confidence and trust. To that end, Quad countries will host an event at the 75th World Health Assembly (WHA) dedicated to combatting hesitancy.

Save Lives Now: Together as the Quad, we are committed to taking further action in the Indo-Pacific to save lives now. Japan, through Japan Bank for International Cooperation, will work with India to enhance key investments of approximately $100 million in the healthcare sector related to COVID-19, including vaccine and treatment drugs. We will utilize the Quad Vaccine Experts Group and convene as needed to urgently consult in relation to our emergency assistance.

Build Back Better Health Security: The Quad commits to better preparing our countries and the world for the next pandemic. We will continue to build coordination in our broader COVID-19 response and health-security efforts in the Indo-Pacific, and we will jointly build and conduct at least one pandemic preparedness tabletop or exercise in 2022. We will also further strengthen our science and technology cooperation in support of the 100-Day Mission—to have safe and effective vaccines, therapeutics, and diagnostics available within 100 days—now and into the future. This includes collaboration on current and future clinical trials, such as launching additional sites for the international Accelerating COVID-19 Therapeutic Interventions and Vaccines (ACTIV) trials, which can expedite investigation of promising new vaccines and therapeutics, while at the same time supporting countries in the region to improve their capacity to undertake scientifically sound clinical research. We will support the call for a "global pandemic radar” and will improve our viral genomic surveillance, including by working together to strengthen and expand the WHO Global Influenza Surveillance and Response System (GISRS).

Infrastructure

Building on the G7’s announcement of Build Back Better World (B3W)—an infrastructure partnership focused on digital connectivity, climate, health and health security, and gender equality infrastructure—the Quad will rally expertise, capacity, and influence to strengthen ongoing infrastructure initiatives in the region and identify new opportunities to meet the needs there. The Quad will:

Launch the Quad Infrastructure Coordination Group: Building on existing leadership from Quad partners on high-standards infrastructure, a senior Quad infrastructure coordination group will meet regularly to share assessments of regional infrastructure needs and coordinate respective approaches to deliver transparent, high-standards infrastructure. The group will also coordinate technical assistance and capacity-building efforts, including with regional partners, to ensure our efforts are mutually reinforcing and complementary in meeting the significant infrastructure demand in the Indo-Pacific.

Lead on High-Standards Infrastructure: Quad partners are leaders in building quality infrastructure in the Indo-Pacific region. Our complementary approaches leverage both public and private resources to achieve maximum impact. Since 2015, Quad partners have provided more than $48 billion in official finance for infrastructure in the region. This represents thousands of projects, including capacity-building, across more than 30 countries in support of rural development, health infrastructure, water supply and sanitation, renewable power generation (e.g., wind, solar, and hydro), telecommunications, road transportation, and more. Our infrastructure partnership will amplify these contributions and further catalyze private-sector investment in the region.

Climate

Quad countries share serious concern with the August Intergovernmental Panel on Climate Change’s report findings on the latest climate science, which has significant implications for climate action. To address the climate crisis with the urgency it demands, Quad countries will focus their efforts on the themes of climate ambition, including working on 2030 targets for national emissions and renewable energy, clean-energy innovation and deployment, as well as adaptation, resilience, and preparedness. Quad countries commit to pursue enhanced actions in the 2020s to meet anticipated energy demand and decarbonize at pace and scale to keep our climate goals within reach in the Indo-Pacific. Additional efforts include working together on methane abatement in the natural-gas sector and on establishing responsible and resilient clean-energy supply chains. The Quad will:

Form a Green-Shipping Network: Quad countries represent major maritime shipping hubs with some of the largest ports in the world. As a result, Quad countries are uniquely situated to deploy green-port infrastructure and clean-bunkering fuels at scale. Quad partners will organize their work by launching a Quad Shipping Taskforce and will invite leading ports, including Los Angeles, Mumbai Port Trust, Sydney (Botany), and Yokohama, to form a network dedicated to greening and decarbonizing the shipping value chain. The Quad Shipping Task Force will organize its work around several lines of efforts and aims to establish two to three Quad low-emission or zero-emission shipping corridors by 2030.

Establish a Clean-Hydrogen Partnership: The Quad will announce a clean-hydrogen partnership to strengthen and reduce costs across all elements of the clean-hydrogen value chain, leveraging existing bilateral and multilateral hydrogen initiatives in other fora. This includes technology development and efficiently scaling up the production of clean hydrogen (hydrogen produced from renewable energy, fossil fuels with carbon capture and sequestration, and nuclear for those who choose to deploy it), identification and development of delivery infrastructure to safely and efficiently transport, store, and distribute clean hydrogen for end-use applications, and stimulating market demand to accelerate trade in clean hydrogen in the Indo-Pacific region.

Enhance Climate Adaptation, Resilience, and Preparedness: Quad countries commit to increasing the Indo-Pacific region’s resilience to climate change by improving critical climate information-sharing and disaster-resilient infrastructure. The Quad countries will convene a Climate & Information Services Task Force and build a new technical facility through the Coalition for Disaster Resilient Infrastructure that will provide technical assistance in small island developing states.

People-to-People Exchange and Education

The students of today will be the leaders, innovators, and pioneers of tomorrow. To build ties among the next generation of scientists and technologists, Quad partners are proud to announce the Quad Fellowship: a first-of-its-kind scholarship program, operated and administered by a philanthropic initiative and in consultation with a non-governmental task force comprised of leaders from each Quad country. This program will bring together exceptional American, Japanese, Australian, and Indian masters and doctoral students in science, technology, engineering, and mathematics to study in the United States. This new fellowship will develop a network of science and technology experts committed to advancing innovation and collaboration in the private, public, and academic sectors, in their own nations and among Quad countries. The program will build a foundational understanding among Quad Scholars of one another’s societies and cultures through cohort-wide trips to each Quad country and robust programming with each country’s top scientists, technologists, and politicians. The Quad will:

Launch the Quad Fellowship: The Fellowship will sponsor 100 students per year—25 from each Quad country—to pursue masters and doctoral degrees at leading STEM graduate universities in the United States. It will serve as one of the world’s leading graduate fellowships; but uniquely, the Quad Fellowship will focus on STEM and bring together the top minds of Australia, India, Japan, and the United States. Schmidt Futures, a philanthropic initiative, will operate and administer the fellowship program in consultation with a non-governmental taskforce, comprised of academic, foreign policy, and private sector leaders from each Quad country. Founding sponsors of the fellowship program include Accenture, Blackstone, Boeing, Google, Mastercard, and Western Digital, and the program welcomes additional sponsors interested in supporting the Fellowship.

Critical and Emerging Technologies

Quad leaders are committed to working together to foster an open, accessible, and secure technology ecosystem. Since establishing a new critical and emerging technologies working group in March, we have organized our work around four efforts: technical standards, 5G diversification and deployment, horizon-scanning, and technology supply chains. Today, the Quad leaders launch a statement of principles on technology, along with new efforts that together will advance critical and emerging technologies shaped by our shared democratic values and respect for universal human rights. The Quad will:

Publish a Quad Statement of Principles: After months of collaboration, the Quad will launch a statement of principles on technology design, development, governance, and use that we hope will guide not only the region but the world towards responsible, open, high-standards innovation.

Establish Technical Standards Contact Groups: The Quad will establish contact groups on Advanced Communications and Artificial Intelligence focusing on standards-development activities as well as foundational pre-standardization research.

Launch a Semiconductor Supply Chain Initiative: Quad partners will launch a joint initiative to map capacity, identify vulnerabilities, and bolster supply-chain security for semiconductors and their vital components. This initiative will help ensure Quad partners support a diverse and competitive market that produces the secure critical technologies essential for digital economies globally.

Support 5G Deployment and Diversification: To support the critical role of Quad governments in fostering and promoting a diverse, resilient, and secure telecommunications ecosystem, the Quad has launched a Track 1.5 industry dialogue on Open RAN deployment and adoption, coordinated by the Open RAN Policy Coalition. Quad partners will jointly facilitate enabling environments for 5G diversification, including with efforts related to testing and test facilities.

Monitor Biotechnology Scanning: The Quad will monitor trends in critical and emerging technologies, starting with advanced biotechnologies, including synthetic biology, genome sequencing, and biomanufacturing. In the process, we will identify related opportunities for cooperation.

Cybersecurity

Building on longstanding collaboration among our four countries on cybersecurity, the Quad will launch new efforts to bolster critical-infrastructure resilience against cyber threats by bringing together the expertise of our nations to drive domestic and international best practices. The Quad will:

Launch a Quad Senior Cyber Group: Leader-level experts will meet regularly to advance work between government and industry on driving continuous improvements in areas including adoption and implementation of shared cyber standards; development of secure software; building workforce and talent; and promoting the scalability and cybersecurity of secure and trustworthy digital infrastructure.

Space

Quad countries are among the world’s scientific leaders, including in space. Today, the Quad will begin space cooperation for the first time with a new working group. In particular, our partnership will exchange satellite data, focused on monitoring and adapting to climate change, disaster preparedness, and responding to challenges in shared domains. The Quad will:

Share Satellite Data to Protect the Earth and its Waters: Our four countries will start discussions to exchange Earth observation satellite data and analysis on climate-change risks and the sustainable use of oceans and marine resources. Sharing this data will help Quad countries to better adapt to climate change and to build capacity in other Indo-Pacific states that are at grave climate risk, in coordination with the Quad Climate Working group.Enable Capacity-Building for Sustainable Development: The Quad countries will also enable capacity-building in space-related domains in other Indo-Pacific countries to manage risks and challenges. The Quad countries will work together to support, strengthen, and enhance space applications and technologies of mutual interest.

Consult on Norms and Guidelines: We will also consult on norms, guidelines, principles, and rules for ensuring the long-term sustainability of the outer space environment.