Prime Minister Narendra Modi on Thursday laid out roadmap for making India self-reliant amid tensions with China and pitched for India to become an exporter instead of being an importer. Boosting the confidence of the industry, PM Modi said that the country should move forward of being the exporter of almost everything that it imports today.
Addressing at the launch of commercial coal minnig on Thursday, PM Modi said business activity in India is returning to normal levels with consumption and demand fast approaching pre-COVID levels. A protracted lockdown imposed to curb spread of coronavirus has resulted in severe disruption of industrial production and consumer spending, with GDP growth forecast to contract sharply.
The Prime Minister also said business activity was fast returning to normal levels. "Consumption and demand are now reaching pre-COVID levels," he added.
He cited rise in electricity demand and fuel consumption among others to point to recovery. "These indicators point to Indian economy fast preparing to bounce back," he said.
"India has come out of big crises in past and it will come out of present one as well." India's growth and success is guaranteed, he said propagating his idea of making the country self-reliant by cutting imports.
"Just until a few weeks back, we used to import N-95 face masks, corona testing kids, personal protective equipment (PPE), and ventilators.
But now we have become self-reliant and are also in a position to export some medical equipment," PM Modi mentioned said.
(With inputs from PTI)