The farmers of Meghalaya have broken the record of five years of production during the year 2015-16, I appreciate them for this: PM Modi
The agricultural sector of our country has shown the path to the whole world in many cases: PM Modi
Our aim is double farmers' income by 2022 as well as address the challenges farmers face: PM Modi
More than 11 crore Health Health Cards have been distributed in the country: PM Modi
Under Pradhan Mantri Krishi Sinchai Yojana, irrigation facilities are being ensured for farms: PM Modi
We have announced Operation Greens in this years budget. Farmers growing Tomato, Onion and Potato have been given TOP priority: PM Modi
We are committed to ensure that benefits of MSP reach the farmers: PM Modi
The government has decided that for the notified crops, the minimum support price, will be declared at least 1.5 times their input cost: PM Modi
Agriculture Marketing Reform is being done at a very large scale in the country for ensuring fair price of crop: PM Modi
The government is promoting the Farmer Producer Organization- FPO: PM Modi
India has immense scope for organic farming. Today there is more than 22 lakh hectares of land in the country under organic farming: PM Modi
I urge the farmers not to burn crop residue. It harms the soil as well as poses threat to environment: PM Modi

The Prime Minister, Shri Narendra Modi, today visited the Krishi Unnati Mela at the IARI Mela Ground, Pusa Campus, in New Delhi. He visited the theme pavilion, and the Jaivik Mela Kumbh. He laid the Foundation Stone for 25 Krishi VIgyan Kendras. He also launched an e-marketing portal for organic products. He gave away the Krishi Karman Awards and the Pandit Deen Dayal Upadhyaya Krishi Protsahan Puraskar.

Addressing the gathering, the Prime Minister said that such Unnati Melas play a key role in paving the way for New India. He said that today, he has the opportunity to simultaneously speak to two sentinels of New India – farmers and scientists. He said farmers and scientists have to work together to transform agriculture.

The Prime Minister specially mentioned the State of Meghalaya, which received an award for its achievements in agriculture, in the period under review.

The Prime Minister appreciated the spirit and the hard work of our farmers, for their achievements in agriculture since independence. He said that today, there is record production of foodgrains, pulses, fruits and vegetables, and milk. He said that there are important challenges in agriculture today, which reduce the farmer’s income, and increase his losses and expenditure. He said the Government is working with a holistic approach to deal with these challenges. He said the aim remains to double farmers’ incomes, and make the farmers’ lives easier.

Speaking about the progress towards this resolve, the Prime Minister said that more than 11 crore soil health cards have been distributed so far. 100 percent neem coating of Urea has also resulted in lowering expenditure on fertilizer, apart from raising productivity.

He said that through the Pradhan Mantri Fasal Bima Yojana, premiums have been lowered, capping on insurance removed, and claims amounts disbursed to farmers have gone up. He said the Pradhan Mantri Krishi Sinchai Yojana envisions water for every farm. 80,000 crore rupees are being spent to complete pending irrigation projects.

He said the Kisan Sampada Yojana is helping strengthen the supply chain from the farm to the market, and creating modern agriculture infrastructure. He said Operation Greens, announced in the recent budget, will be beneficial for farmers growing fruits and vegetables, especially Tomato, Onion and Potato.

He said several Model Acts related to farmers’ welfare have been prepared, and States have been urged to implement them.

The Prime Minister said that the Government is working to ensure that farmers get modern seeds, adequate power supply, and easy market access.

He said that the Union Government has decided that for all notified crops, MSP will be at least one and a half times the cost. He said that for this purpose the cost will include elements such as labour, rent for machinery, cost of seeds and fertilizers, revenue being given to State Government, interest on working capital, and rent of leased land.

The Prime Minister said comprehensive steps are being taken for Agriculture Marketing Reforms. It is important to connect Rural Retail Markets with wholesale and global markets. He said that in the recent Union Budget, Grameen Retail Agriculture Markets have been envisaged. 22,000 rural haats will be upgraded with necessary infrastructure, and integrated with APMC and the e-NAM platform.

The Prime Minister also emphasized the importance of Farmer Producer Organizations. He said Farmer Producer Organizations, would be given relief on income tax, on the lines of cooperative societies. He said a new chapter in Agriculture Marketing Reform is being added in this programme, with the e-marketing portal for organic products.

He said that along with the Green Revolution and White Revolution, we must stress on Organic Revolution, Water Revolution, Blue Revolution, and Sweet Revolution.

He said the Krishi Vigyan Kendras (KVKs) will play a key role in this regard.

The Prime Minister explained how honey-bees could be an important source of additional income for farmers. Similarly, he spoke of the benefits of solar farming. He said about 2.75 lakh solar pumps have reached farmers in the last three years. The Prime Minister also spoke of the Go-Bar Dhan Yojana for creating compost, bio-gas etc from bio-waste.

The Prime Minister said crop residue burning has harmful effects, and if the crop residue is instead returned to the soil through machines, it will have beneficial effects.

The Prime Minister said that the Government is working to ensure that adequate Agriculture Credit is available.

The Prime Minister said that such events should also be held in far-flung areas. He also called for impact analysis of such events.

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Text of PM’s address at third edition of Kautilya Economic Conclave in New Delhi
October 04, 2024
Today, India is the fastest growing major economy:PM
Government is following the mantra of Reform, Perform and Transform:PM
Government is committed to carrying out structural reforms to make India developed:PM
Inclusion taking place along with growth in India:PM
India has made ‘process reforms’ a part of the government's continuous activities:PM
Today, India's focus is on critical technologies like AI and semiconductors:PM
Special package for skilling and internship of youth:PM

Finance Minister Nirmala Sitharaman ji, President of the Institute of Economic Growth N K Singh ji, other distinguished guests from India and abroad at the Conclave, ladies and gentlemen! This is the third edition of the Kautilya Conclave. I am delighted to have the opportunity to meet you all. There will be numerous sessions here, discussing various economic issues over the next three days. I am confident that these discussions will help accelerate Bharat’s growth.

Friends,

This Conclave is being held at a time when two major regions of the world are in a state of war. These regions are crucial for the global economy, especially in terms of energy security. Amidst such significant global uncertainty, we are gathered here to discuss ‘The Indian Era.’ This shows that trust in Bharat today is unique... It demonstrates that Bharat’s self-confidence is exceptional.

Friends,

Today, Bharat is the fastest-growing major economy in the world. Bharat is currently the fifth largest economy in terms of GDP. We are number one in terms of global fintech adoption rates. Today, we are number one in smartphone data consumption. We are the second largest internet user base globally. Nearly half of the world’s real-time digital transactions are taking place in Bharat today. Bharat now has the world’s third-largest start-up ecosystem. In terms of renewable energy capacity, Bharat is ranked fourth. When it comes to manufacturing, Bharat is the second-largest mobile phone manufacturer. Bharat is also the largest producer of two-wheelers and tractors. And not just that, Bharat is the world's youngest country. Bharat has the third-largest pool of scientists and technicians globally. Whether it’s science, technology, or innovation, Bharat is clearly in a sweet spot.

Friends,

By following the mantra of ‘Reform, Perform, and Transform,’ we are continuously making decisions to drive the nation forward at a rapid pace. This is the impact that has led the people of Bharat to elect the same government for the third consecutive time after 60 years. When people’s lives change, they gain confidence that the country is moving on the right track. This sentiment is reflected in the mandate of the Indian public. The trust of 140 crore citizens is a great asset for this government.

Our commitment is to continue making structural reforms to make Bharat a developed nation. You can see this commitment in the work we have done in the first three months of our third term. Bold policy changes, a strong commitment to jobs and skills, a focus on sustainable growth and innovation, modern infrastructure, quality of life, and the continuity of rapid growth are reflected in the policies of our first three months. During this period, decisions amounting to over 15 trillion rupees i.e. 15 lakh crore rupees have been made. In these three months alone, work on numerous mega infrastructure projects has begun in Bharat. We have also decided to create 12 industrial nodes across the country. Additionally, we have approved the construction of 3 crore new houses.

Friends,

Another notable factor in Bharat’s growth story is its inclusive spirit. It was once believed that with growth comes inequality. But the opposite is happening in Bharat. Along with growth, inclusion is also taking place in Bharat. As a result, 250 million i.e. 25 crore people have been lifted out of poverty in the last 10 years. Along with Bharat’s rapid progress, we are ensuring that inequality is reduced and that the benefits of development reach everyone.

Friends,

The confidence in Bharat’s growth predictions also shows the direction we are heading in. You can see this in the data from recent weeks and months. Last year, our economy performed better than any prediction. Whether it’s the World Bank, the IMF, or Moody’s, all have upgraded their forecasts for Bharat. All these institutions are saying that despite global uncertainty, Bharat will continue to grow at a 7+ rate. We Indians are confident that we will perform even better than that.

Friends,

There are solid reasons behind this confidence in Bharat. Be it manufacturing or the service sector, the world today sees Bharat as a preferred destination for investment. This is not a coincidence but a result of major reforms over the past 10 years. These reforms have transformed Bharat’s macroeconomic fundamentals. One example is Bharat’s banking reforms which have not only strengthened the financial conditions of banks but also increased their lending capacity. Similarly, the GST has integrated various central and state indirect taxes. The Insolvency and Bankruptcy Code (IBC) has developed a new credit culture of responsibility, recovery, and resolution. Bharat has opened sectors such as mining, defence, and space for private players and our young entrepreneurs. We have liberalized the FDI policy to create more and more opportunities for investors around the world. We are focusing on modern infrastructure to reduce logistics costs and time. Over the past decade, we have significantly scaled up investments in infrastructure.

Friends,

India has integrated process reforms into the government’s ongoing initiatives. We have eliminated over 40,000 compliances and decriminalised the Companies Act. Numerous provisions that previously made business operations difficult have been amended. The National Single Window System has been introduced to simplify the processes of starting, closing, and obtaining clearances for companies. Now, we are encouraging state governments to accelerate process reforms at the state level.

Friends,

To boost manufacturing in Bharat, we have introduced Production Linked Incentives (PLI), the impact of which is now visible across many sectors. Over the past three years, PLI has attracted investments of approximately ₹1.25 trillion (₹1.25 lakh crore). This has resulted in the production and sales amounting to about ₹11 trillion (₹11 lakh crore). Bharat's progress in the space and defence sectors is also remarkable. These sectors have only recently been opened up, yet more than 200 start-ups have already emerged in the space sector. Today, our private defence companies account for 20 percent of the country’s total defence manufacturing.

Friends,

The growth of the electronics sector is even more remarkable. Just 10 years ago, Bharat was a major importer of most mobile phones. Today, over 330 million or more than 33 crore mobile phones are manufactured in Bharat. In fact, no matter which sector you look at, there are exceptional opportunities for investors in Bharat to invest and earn high returns.

Friends,

Bharat is now also focusing on critical technologies such as AI and semiconductors, and we are investing significantly in these areas. Our AI mission will enhance both research and skills development in the AI field. Under the India Semiconductor Mission, investments totalling ₹1.5 trillion (₹1.5 lakh crore) are being made. Soon, five semiconductor plants in Bharat will begin delivering 'Made in India' chips to every corner of the world.

Friends,

You are all aware that Bharat is the leading source of affordable intellectual power. A testament to this is the presence of more than 1,700 global capability centres of companies from around the world operating in India today. These centres employ over two million i.e. 20 lakh Indian youth, who are providing highly skilled services to the world. Today, Bharat is placing an unprecedented focus on maximising this demographic dividend. To achieve this, special attention is being devoted to education, innovation, skills, and research. We have introduced a significant reform in this area with the implementation of the New National Education Policy. In the past 10 years, a new university has been established every week, and two new colleges have been opened each day. During this period, the number of medical colleges in our country has doubled.

And friends,

We are focusing not only on expanding access to education but also on improving its quality. As a result, the number of Indian institutions in the QS World University Rankings has more than tripled over the past decade. In this year's budget, we announced a special package for skilling and interning millions of young people. Under the PM Internship Scheme, 111 companies registered on the portal on the very first day. Through this scheme, we are supporting 1 crore youth with internships at major companies.

Friends,

Bharat's research output and patent filings have also seen rapid growth in the past 10 years. In less than a decade, Bharat has risen from 81st to 39th in the Global Innovation Index rankings, and we aim to advance further. To bolster its research ecosystem, India has also created a research fund worth ₹1 trillion.

Friends,

Today, the world has high expectations from Bharat regarding a green future and green jobs, and there are equally significant opportunities for you in this sector. You all followed the G20 Summit held under Bharat's presidency. One of the many successes of this summit was the renewed enthusiasm for the green transition. During the G20 Summit, the Global Biofuel Alliance was launched at Bharat's initiative, and G20 member countries strongly supported Bharat's development of green hydrogen energy. In Bharat, we have set a target to produce 5 million tonnes of Green Hydrogen by the end of this decade. We are also advancing solar power production at the micro level.

The Government of India has launched the PM Surya Ghar Free Electricity Scheme, a large-scale Rooftop Solar Scheme. We are providing funding to every household for setting up rooftop solar systems and assisting with solar infrastructure installation. So far, more than 13 million i.e. 1 crore 30 lakh families have registered for this scheme, meaning these households have become solar power producers. This initiative will save an average of ₹25,000 per family. For every three kilowatts of solar power generated, 50-60 tonnes of carbon dioxide emissions will be prevented. This scheme will create approximately 1.7 million (17 lakh) jobs, producing a vast workforce of skilled youth. Therefore, numerous new investment opportunities are emerging for you in this sector as well.

Friends,

The Indian economy is currently undergoing a significant transformation. With strong economic fundamentals, India is on a path of sustained high growth. Today, Bharat is not only striving to reach the top but is also making concerted efforts to stay there. The world today offers immense opportunities across every sector. I am confident that your discussions will provide many valuable insights in the days to come.

I am confident that in the coming days, many valuable insights will emerge from your discussions. I extend my best wishes for this endeavour, and I assure you that this is not merely a debating forum for us. The discussions that take place here, the points raised, the do's and don'ts—those that prove beneficial—are diligently integrated into our governmental system. We incorporate them into our policies and governance. The wisdom you contribute during this churning process is what we utilise to shape a brighter future for our country. Your participation is, therefore, of immense importance to us. Every word you offer holds value for us. Your thoughts, your experience—they are our assets. Once again, I thank you all for your contribution. I also congratulate N. K. Singh and his entire team for their commendable efforts.

With warmest regards and best wishes.

Thank you!