India will get growth back, trust me: PM

Even as the economy grew at a dismal 4.1 per cent in 2019-20 and, for the first time in 22 years, international rating agency Moody’s downgraded India’s sovereign rating to the lowest investment grade, the Prime Minister on Tuesday said he was “confident” that economy will revive in the coming days.

Pledging to undertake more structural reforms, Mr Modi, while addressing CII’s annual session titled “2020: Getting Growth Back”, explained the concept of “Atmanirbhar Bharat” and called on India Inc. to rise to the occasion and partner rural India in these testing times. “On the one hand we have taken tough steps to fight the virus and on the other, we have taken care of the economy,” he said. Indian industry, he said, has started talking about “getting growth back”.

“I will go beyond getting growth back to say ‘Yes! We will definitely get our growth back,” the Prime Minister assured industry leaders and added, “Trust me, it is not all that difficult, and the path to that is Atmanirbhar Bharat.”

Listing five “I”s -- “Intent, inclusion, investment infrastructure and innovation” — he said, “We have to invest in the robust local supply chain that can strengthen India’s participation in global supply chain… There is a need to create products that are Made in India and Made for the World.”

Getting growth back is not that difficult and the path to that is Atmanirbhar Bharat… We need to manufacture products that are Made in India and Made for the World — Prime Minister Narendra Modi to CII