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Narendra Modi at India Ideas Summit LIVE Updates: Rise in Trade Opportunities with Nation You Can Trust, PM Tells US as He Vouches for 'Atmanirbhar Bharat'
India Ideas Summit LIVE Updates: Highlighting India's contribution in moving towards a resilient world with 'Atmanirbhar Bharat', Prime Minister Narendra Modi told US that it can trust the country with trade. The statement could be seen as a subtle attack on China, which is presently one of the dominant countries in the world market. Earlier in the day, US Secretary of State Mike Pompeo had dubbed Chinese Communist Party is a 'mutual threat'.
"Recent experience has taught us that the global economy has been too focused on efficiency and optimization. Efficiency is a good thing. But, on the way, we forgot to focus on something equally important. That is resilience against external shocks. Global economic resilience can be achieved by stronger domestic economic capacities. India is contributing towards a prosperous and resilient world through the clarion call of an 'Atmanirbhar Bharat'. And, for that, we await your partnership," PM Modi said at the virtual summit being hosted by the US-India Business Council.
With challenges from China, it only makes sense that we find more opportunities in areas like technology, healthcare, supply chains. Hope the US will come together with allies and realize the opportunities that India has to offer, said Former US Ambassador Nikki Haley at the India Ideas Summit.
Ties Between Prez Trump and PM Modi Strengthened | Former US Ambassador to the UN & Former Governor of South Carolina, Nikki Haley said, "The relationship between PM Modi and President Trump has strengthened, and it's important we continue to take that relationship forward.
Prime Minister Narendra Modi expressed gratitute to the US-India Business Council (USIBC) for the invitation to address the 'India Ideas Summit'.
I thank the US-India Business Council for inviting me to address the 'India Ideas Summit'. I also congratulate the USIBC on its forty fifth anniversary this year. Over the past decades, the USIBC has brought Indian and American business closer: PM @narendramodi
— PMO India (@PMOIndia) July 22, 2020
READ | Joining Hands to Overtake China in 5G, Suggestion to 'Open' Market: At Ideas Summit, US Shares Tips & Plans for India
US Envoy to India, Ken Juster, said that no one wants to have a conflict in the Indo-Pacific region.
"May the USIBC keeps scaling new heights, may the US-India partnership grow further," said Prime Minister Narendra Modi during his keynote address at the India Ideas Summit.
READ | Hope India's Foreign Policy Remains Independent, Says China as New Delhi Steps up Military, Intel Ties With US
Chinese foreign ministry spokesperson Wang Wenbin said he hopes India will stay to its independent diplomatic policy and play a constructive role in maintaining regional peace and stability.
WATCH | "Now it is time our partnership plays an important role in helping the world bounce back faster after the pandemic," said PM Narendra Modi.
#IndiaIdeasSummit -The US-India friendship has scaled many heights in the past. Now it is time our partnership plays an important role in helping the world bounce back faster after the pandemic: PM Modi
— CNNNews18 (@CNNnews18) July 22, 2020
Watch, only on CNN-News18 pic.twitter.com/pvEqgg8R34
'Rise of India Means Rise in Trade Opportunities'
Rise of India Means Rise in Trade Opportunities: PM | The rise of India means, a rise in trade opportunities with a nation that you can trust, a rise in global integration with increasing openness, a rise in your competitiveness with access to a market which offers scale. And a rise in returns with availability of skilled workers, says PM Narendra Modi.
India Attracted Over $20 Bil FDIs | Every year, we are reaching record highs in FDI. Each year is significantly higher than the earlier one. FDI inflows in India in 2019-20 were $74 billion. This is an increase of 20 per cent from the year before that. The US investments has already crossed $40 million this year. In the middle of pandemic, India has attracted more than $20 billion, says Prime Minister, Narendra Modi.
Investment Best Show of Confidence: PM Modi | When the markets are open, when the opportunity is high and the options are many, can optimism be far behind! You can see the optimism when India rises in key business ratings. Particularly the ease of doing business ratings of the World Bank. Investment is the best show of confidence, says Narendra Modi at the India Ideas Summit.
India's Insurance Market Growth at Over 12% | India invites you to invest in finance and insurance. India has raised FDI cap for investment in insurance to 49 per cent. Now 100 per cent FDI is permitted for investment in insurance intermediaries. The insurance market in India is growing at more than 12 per cent
PM Modi on Defence and Space Sector | India invites you to invest in defense and space. We are raising the FDI cap for investment in defense sector to 74 per cent. India has established two defense corridors to encourage production of defense equipment and platforms. We offer special incentives for private and foreign investors: Narendra Modi
PM Modi Says Huge Opportunities in Civil Aviation | Civil aviation is another area of great potential growth. The number of air passengers are expected to more than double within the next 8 years. The top private Indian airlines plan to include over a thousand new aircraft over the coming decade. This is a huge opportunity who chooses to setup manufacturing unit in India, says Prime Minister, Narendra Modi.
PM Modi on Infrastructure Development | India invites you to invest in infrastructure. Our nation is witnessing the largest infrastructure creation drive in our history. Come, be a partner in building housing for millions, or building roads, highways and ports in our nation, says Prime Minister, Narendra Modi.
Big Opportunity in Clean Energy Sector | India invites you to invest in energy. As India evolves into a gas-based economy, there will be big investment opportunities for US companies. There are also big opportunities in the clean energy sector. To generate more power for your investments this is the best to enter the Indian power sector, says PM Narendra Modi.
India and the US has built a robust partnership in the pharmaceutical sector, says PM Modi.
PM Modi Invites Healthcare Investments | India invites you to invest in healthcare. The healthcare sector in India is growing faster than 22 per cent every year. Our companies are also progressing in production of medical-technology, tele-medicine and diagnostics, says Prime Minister Narendra Modi.
Historic Reforms in Agri Sector | India has done historic reforms in the agriculture sector recently. There are investment opportunities in: agricultural inputs and machinery, agriculture supply chain management, ready-to-eat items, fisheries and organic produce, says PM Modi.
Opportunities in technology also include those in the frontier technologies of 5G, big data analytics, quantum computing, block-chain and internet of things, says PM Narendra Modi.
India is Now Land of Opportunities: PM Modi | India is emerging as a land of opportunities. Let me give you one example of the technology sector. Recently, an interesting report came out in India. It said for the first time ever, there are more rural internet users than even urban internet users, says PM Modi at the India Ideas Summit.
During the last six years, we have made many efforts to make our economy more open and reform-oriented. Reforms have ensured increased ‘competitiveness’, enhanced ‘transparency’, expanded ‘digitization’, greater ‘innovation’ and more ‘policy stability’, says Prime Minister, Narendra Modi.
India Celebrates Openness in People & in Governance | There is global optimism towards India. This is because India offers a perfect combination of openness, opportunities and options. Let me elaborate. India celebrates openness in people and in governance, says Narendra Modi.
India is contributing towards a prosperous and resilient world through the clarion call of an ‘Atmanirbhar Bharat’. And, for that, we await your partnership, says PM Modi at LIVE address.
Global economic resilience can be achieved by stronger domestic economic capacities. This means improved domestic capacity for manufacturing, restoring the health of the financial system and diversification of international trade, says PM Modi at India Ideas Summit.
Recent experience has taught us that the global economy has been too focused on efficiency and optimization. Efficiency is a good thing. But, on the way, we forgot to focus on something equally important. That is resilience against external shocks, says Prime Minister, Narendra Modi
Our Approach Must be Human-centric: Modi | It is all of us who have to collectively give shape to the future. I firmly believe that our approach to the future must primarily be a more human-centric one: PM Modi
USIBC's choice of this year's summit "Buildings Better Future is also very very relevant says PM Narendra Modi.
Prime Minister Narendra Modi begins live address at India Ideas Summit.
Lockheed Martin on India Ideas Summit | India needs to have more legal reforms to speed up time lines of litigation; need to continue to build up infrastructure including digital infrastructure in India, says Jim Taiclet, CEO of Lockheed Martin.
Prime Minister Narendra Modi to address the India Ideas Summit shortly.
File photo of PM Modi.
