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Prime Minister Narendra Modi on Saturday said that sentiment has shifted from ‘Why India’ to ‘Why not India’. He also urged India Inc to invest more in research and development (R&D).
Addressing members of industry chamber Assocham, he said that there was never so much positivity in the world about India’s success before. He owed this positivity to the unprecedented confidence of over 130 crore Indians. “Now India is making new avenues to move forward, moving ahead with new energy. Reforms in the country have influenced in changing the sentiment of the industry from ‘Why India’ to ‘Why not India’ in investing,” he said.
He lamented the poor investment in Research & Development by Indian industry, comparing with America where 70 per cent of the investment on R&D is from the private sector. He asked the Indian industry to increase their investments in R&D especially in sectors like agriculture, defense, space, energy, construction, pharma and transport sector. “In every sector, all the companies should earmark a certain amount for R&D,” he asked.
The Prime Minister remarked that the world is moving rapidly towards the fourth industrial revolution, challenges will come in the form of new technology and many solutions will also come. He said today is the time to plan and act. He urged the business leaders to come together every year and connect every goal with one larger goal of nation building. He said this is the time to show the capability, commitment and courage of Indian industry to the world. “Not only achieving self-reliance is important rather how soon we achieve this goal is equally important,” he added.
The Prime Minister remarked that new India, by relying on its strength, relying on its own resources, is pushing forward for AtmaNirbhar Bharat and special focus is on manufacturing to achieve this goal. He said reforms are continuously being undertaken to promote manufacturing in India.
“As we are moving forward on the mission mode to make local a global one, we have to react quickly to every geopolitical development,” he said while stressing on the need to have an effective mechanism for how India will meet any sudden demand in the global supply chain. He said the need of the hour is to achieve better synergy between industry organisations such Assocham with the Ministry of External Affairs, Commerce & Trade to achieve the goal. He asked the industry for suggestions and ideas on how to react quickly to global transformations and how to have better mechanisms for faster response.
The Prime Minister said India is also capable of helping the world while meeting its needs. Even during the period of Covid, India has taken the responsibility of pharmacy of the world and delivered essential medicines around the world. Now even in the case of vaccines, India will fulfill its needs and also meet the expectations of many countries. He urged the members of Assocham to provide a global platform for showcasing the products of rural artisans. He said this would help in bridging the rural urban divide. He stressed the need for the Government of India to work together with State Governments, farm organisations and industry associations for better promotion of our organic farm products, better infrastructure and better market. This would help our entire rural economy reach a new high.
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