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Prime Minister Narendra Modi interacting with economists, private equity and venture capitalists, business leaders and experts in various fields in New Delhi on January 9, 2020.
Prime Minister Narendra Modi interacting with economists, private equity and venture capitalists, business leaders and experts in various fields in New Delhi on January 9, 2020.
Business & Economy

Modi calls for focused effort to achieve $ 5-trillion economy

NetIndian News Network

New Delhi, January 9, 2020

Prime Minister Narendra Modi on Thursday called for a focussed effort from all stakeholders in order to achieve the target of making India a 5 trillion dollar economy.

The Prime Minister was interacting with a group of senior economists, private equity and venture capitalists, business leaders from manufacturing, travel & tourism, apparel & FMCG, analytics, and subject experts in the fields of agriculture, science & technology and finance.

The meeting was held at NITI Aayog as part of the pre-budget exercises.

Modi said he was happy that the two-hour open discussion had brought to the forefront the experience of people on the ground and those working in their respective fields. This would enhance the synergy between policymakers and various stakeholders.

The idea of a 5-trillion-dollar economy is not a sudden development. It is based on a deep understanding of the strengths of the country. The strong absorbent capacity of Indian economy shows the strength of basic fundamentals and its capacity to bounce back, he added.

Sectors like tourism, urban development, infrastructure and agri-based industry have great potential in taking forward the economy and for employment generation. Open discussions and brainstorming in such forums lead to a healthy debate and understanding of the issues, he said.

The Prime Minister said this would also foster a positive mood and a “can do” spirit in society. Stating that India is a land with unlimited possibilities, he requested all stakeholders to do their bit to bridge the gap between reality and perception. “We must all work together and start to think like a nation,” he added.

Economists Shankar Acharya, R Nagaraj, Farzana Afridi, venture capitalist Pradip Shah, industrialists Apparao Mallavarapu, Deep Kalra, Patanjali Govind Keswani, Deepak Seth, Srikumar Misra, subject experts Ashish Dhawan and Shiv Sarin were among the 38 delegates who participated in the discussions.

Minister for Home Affairs Amit Shah, Union Minister for Road Transport & Highways and MSME Nitin Gadkari, Minister for Railways and Commerce Piyush Goyal and Minister for Agriculture & Farmers Welfare, Rural Development, Panchayati Raj Narendra Tomar, Secretaries from various Ministries, Vice-Chairman of NITI Aayog Rajiv Kumar and CEO of NITI Aayog Amitabh Kant attended the meeting.

NNN