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India is undergoing rapid change in mindsets as well as markets: PM

New Delhi: Emphasising that there are opportunities for everyone in India, Prime Minister Narendra Modi on Thursday said that India is undergoing a rapid change in mindsets as well as markets.

Delivering his keynote address at the Invest India Conference in Canada, Modi said India is playing the role of the pharmacy to the world. ‘We have provided medicine to around 150 countries so far, ‘ he said through video-conferencing.

The Prime Minister said in the post-Covid world, one often heard of various kinds of problems.

‘Problems of manufacturing, problems of supply chains, problems of PPE, etc. However, India has not let those problems be. We showed resilience and emerged as a land of solutions’

Modi said India has undertaken a trinity of reforms in the field of education, labour and agriculture.

Together, they impact almost every Indian, he maintained.

‘India has ensured reforms in the field of labour and agriculture. They ensure greater participation of the private sector while strengthening the government’s safety nets. These reforms will lead to a win-win situation for entrepreneurs as well as hard-working people,’ he stressed.

Modi said India has adopted a unique approach posed by the Covid-19 pandemic.

‘We have given relief and stimulus package for the poor and the small businesses. We have also used this opportunity to undertake structural reforms. These reforms ensure more productivity and prosperity,’ he stated.

The Prime Minister said today, India has embarked on a journey of deregulation and decriminalisation of various offences under the companies act.

Modi said during March-June of this year, India’s agricultural exports rose by 23 per cent, adding that this happened while the entire country was in a stringent lockdown.

‘We showed resilience and emerged as a land of solutions. There is one thing common to most people in the audience. It has people who take investment decisions.’

He said ‘I want to ask you: What do you think about before investing in a country? Does the country have a vibrant democracy? Does the country have political stability? Does the country have investment & business-friendly policies? Does the country have a skilled talent pool?

‘The undisputed answer to all these questions is one: India.’

The Invest India Conference aims to give Canadian business community a first-hand perspective of the opportunities to invest in India and showcase India as an investment destination.

The Conference is expected to witness participation of representatives from banks and insurance companies, investment funds, companies in sectors like aviation, electronics and manufacturing, consultant firms and universities.

This is organised with a special focus on further strengthening business ties between India and Canada.

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