Prime Minister Narendra Modi delivered the keynote address at ASSOCHAM Foundation Week 2020 on Saturday via video conferencing. PM Modi also announced and presented the ‘ASSOCHAM Enterprise of the Century Award’ to Ratan Tata, who received the award on behalf of the TATA Group.
Key points from the event that PM Modi highlighted:
- Investment in R&D must be increased; the private sector needs to scale up investment.
- The world has confidence in the Indian economy. During the coronavirus pandemic when the world is distraught over channelling investments, we have received a record amount of FDI. We have to increase our domestic investments in order to sustain this confidence.
- PM Modi added that with new reforms, ease in labour laws compliance, reduced red tape, competitive tax rates and innovations, the past’s rhetoric of “Why India?” has turned to “Why not India?”
- India’s youth making a name in startups.
- India played pharmacy of the world during COVID-19.
- From farmers to pharma, India has helped the world.
- India received record FDI amidst pandemic.
- In coming years, for Atmanirbhar Bharat, all of you should exert all possible force which can be mustered. The world is heading towards another Industrial Revolution. So from today we must plan & act on achieving our nation-building targets.
- Manufacturing is our main focus.
- Our challenge is not just to become self-reliant but also how soon we can achieve this goal is also equally important.
“In all the years that I have been in business, I have valued what our PM has been wanting to do. He has led the country through the pandemic for which we should be obliged” Ratan Tata, Chairman Tata Trusts’, at ASSOCHAM Foundation Week 2020.
“We at ASSOCHAM are already seeing a strong V-shaped recovery and visualize a 10 per cent positive GDP by end 2021”, expressed Niranjan Hiranandani, head of Hiranandani Group, at ASSOCHAM Foundation Week.
ASSOCHAM was founded in 1920 by promoter chambers representing all regions of India. It has over 400 chambers and trade associations under its control and offers its services to over 4.5 lakh members across India.