India remains one of the most open economies in the world: Narendra Modi

Prime Minister Narendra Modi on Thursday delivered the inaugural address at India Global Week 2020. “In these times, it is natural to talk about revival. It is equally natural to link global revival and India. There is faith that the story of global revival will have India playing a leading role,” he said.

The PM said that “World over, you have seen the contribution of India’s talent-force. Who can forget the Indian tech industry and tech professionals? They have been showing the way for decades. India is a power-house of talent that is eager to contribute.”

“Indians are natural reformers. History shows that India has overcome every challenge be it social or economic. On the one hand, India is fighting a strong battle against the global pandemic. With an increased focus on people’s health, we are equally focussed on the health of the economy,” the Prime Minister said.

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He further said that “When India talks of revival it’s a revival with care, with compassion, which is sustainable both for environment& economy. Indians have the spirit to achieve what is believed to be impossible. No wonder that in India, we are already seeing green shoots of economic recovery.”

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“The pandemic has once again shown that India’s pharma industry is an asset not just for India but for the entire world. It has played a leading role in reducing the cost of medicines, especially for developing countries,” he said.

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Talking about the economy, PM Modi said that “India remains one of the most open economies in the world. We are laying a red carpet for all global companies to come and establish their presence in India. Very few countries will offer the kind of opportunities India does today.”

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“Vaccines made in India are responsible for 2/3rd of the vaccine needs of the world’s children. Today also our companies are active in international efforts for development and production of COVID-19 vaccine,” PM said. “I’m certain that India will have an important role in developing and in scaling up production of the vaccine once it is discovered,” he added.

-PTC News