India At 75 – ‘Government and Business Working Together for Aatmanirbhar Bharat

It is a matter of few days before India enters its 75th year of independence. Several events, campaigns, programs which involve citizen outreach along with interactions with the country’s wealth creators, social workers, intellectuals, cultural stalwarts and achievers from several fields have been planned throughout the year under the Azadi Ka Amrit Mahotsav is an intensive, country wide campaign. In the same vein, industry bodies are also organising various events which delve into 75 years of independent India and reflect on the path covered by the Nation, trysts with internal and international events along with a blueprint for the future.

The Confederation of Indian Industry (CII) organised its annual session on the theme India At 75 where Prime Minister addressed the forum on ‘India@75: Government and Business Working Together for Aatmanirbhar Bharat. PM Narendra Modi observed multiple parallels cutting across start-ups, sports, industry and how India together represents a mosaic of strengths which collaborated to deal with the pandemic in the year gone by.

Some of the highlights of the PM’s speech include:

  • India had witnessed strengthening of Indian government and its industries during the pandemic. From masks, to PPEs to vaccination, the industry supported Indian Government in every possible way. India’s wealth creators have contributed immensely to the Indian growth story.
  • Stressing on India’s consistent growth and progress in Ease of Doing Business, the PM highlighted how India was inviting investment in several sectors. This was the New India being ushered into the New global order.
  • The several steps taken by the government has led to record FDI in India. New records in FPI have been clocked and the forex reserve is at an all-time high.
  • Highlighting the fact that one of New India’s biggest strengths is its belief in itself, the PM exhorted the industry members to harness the potential of aspirational India to the fullest.
  • In line with the aim to build an Aatmanirbhar Bharat, Indians are believing in the products made in India. People are committed towards building a self-reliant India and now the industry sector needs to formulate its policies and framework according to this.
  • Indian start-ups have shown remarkable self-confidence. Several unicorns are determining the image of the nation on the global front. Just 7-8 yrs ago, India might have had just 3-4 unicorns. Today, there are nearly 60 unicorns in India. Out of these 60, 21 of them have been developed in the last few months.
  • As a Government which has believed in reforms to remove bottlenecks, Narendra Modi-led Government has undertaken reforms that were warranted for decades. The changes made in the Companies Act are a big example of this.
  • Even during the pandemic, the Government continued to take bold decisions. The country has stood with those reforms. For instance, commercial coal mining has been started, new reforms have been done in defence sector, space and atomic sector have been opened up for the private sector amongst a few.
  • This session of the Parliament has passed several Bills that will strengthen the country’s efforts; such as The Factoring Regulation (Amendment) Bill, 2021.
  • The Production Linked Incentive scheme to strengthen ‘Make in India’, employment and exports will be decisive for the future of manufacturing in India. All such reforms are being made because the incumbent government is doing them with conviction, and not under compulsion. Similarly, GST has showed positive results as well with record collections being witnessed.
  • India, which was once apprehensive of foreign investment, is today welcoming all types of investments. India is taking major leaps in Ease of Doing Business ranking year after year.

With continued focus on reforms and improving the business climate of the country, in today’s address, Prime Minister has once again reiterated to the industry that his Government can take the boldest decisions keeping the nation in mind and not political benefits.