PM Modi addresses India Ideas Summit via video conferencing

Published By : Admin | July 22, 2020 | 21:26 IST
QuoteGlobal economic resilience can be achieved by stronger domestic economic capacities: PM
QuoteIndia is contributing towards a prosperous and resilient world through the clarion call of ‘Aatmanirbhar Bharat’: PM
QuoteThere has never been a better time to invest in India: PM
QuoteIndia is emerging as a land of opportunities: PM
QuoteIndia-US partnership can play an important role in helping the world bounce back faster after the pandemic: PM

Prime Minister Shri Narendra Modi delivered the keynote address at the India Ideas Summit today. The Summit is being hosted by the US-India Business Council (USIBC). The theme for this year’s Summit is ‘Building a Better Future’.

Prime Minister congratulated USIBC on its 45th anniversary this year. He thanked the USIBC leadership for their commitment to advancing India-US economic partnership.

Global economic resilience through stronger domestic economic capacities

Prime Minister talked about the need to place the poor and the vulnerable at the core of growth agenda. He underlined that ‘Ease of Living’ is as important as ‘Ease of Business’. He said that the pandemic has reminded us of the importance of resilience of the global economy against external shocks, which can be achieved by stronger domestic economic capacities. He emphasized that India is contributing towards a prosperous and resilient world through the clarion call of an ‘Aatmanirbhar Bharat’.

India offers a perfect combination of openness, opportunities and options

Prime Minister said that there is global optimism towards India because it offers a perfect combination of openness, opportunities and options. He noted that in the last six years, efforts have been undertaken to make our economy more open and reform oriented, adding that reforms have ensured competitiveness, enhanced transparency, expanded digitization, greater innovation and more policy stability.

Citing a recent report, Prime Minister said that there are more rural internet users than urban internet users. Hailing India as a land of opportunities, he said there are about half a billion active internet users in the country now, while there are over half a billion more people who are being connected. He also mentioned opportunities in the frontier technologies of 5G, Big Data analytics, Quantum Computing, Block-chain and Internet of Things.

Extensive opportunities to invest across sectors

Prime Minister underlined that there are extensive opportunities to invest in a variety of sectors in India. He talked about the historic reforms recently undertaken in the agriculture sector and said that there are opportunities to invest in areas including agriculture inputs and machinery, agriculture supply chain, food processing sector, fisheries and organic produce. Noting that the healthcare sector in India is growing faster than 22% every year and the progress of Indian companies in production of medical-technology, tele-medicine and diagnostics, he said that now is the best time to expand investment in Indian healthcare sector.

Prime Minister listed several other sectors which offer tremendous opportunities to invest, viz. the energy sector; infrastructure creation including building houses, roads, highways and ports; civil aviation, wherein top private Indian airlines plan to include over a thousand new aircrafts over the coming decade, thus opening up opportunity for any investor who chooses to set up manufacturing facilities in India, and also through setting up of Maintenance Repair and Operations facilities. He mentioned that India is raising the FDI cap for investment in defence sector to 74%, two defence corridors have been established to encourage production of defense equipment and platforms, and added that special incentives are offered for private and foreign investors. He also mentioned path-breaking reforms being undertaken in the space sector.

Inviting investment in finance and insurance, Prime Minister said that India has raised the FDI cap for investment in insurance to 49% and 100% FDI is permitted for investment in insurance intermediaries. He noted that there are large untapped opportunities for increasing insurance cover in health, agriculture, business and life insurance.

Rising investments in India

Prime Minister talked about India’s rise in Ease of Doing Business rankings of the World Bank. He underlined that each year, India is reaching record highs in FDI, adding that FDI inflows in India in 2019-20 were 74 billion dollars, which is an increase of 20% over the previous year. He highlighted that even during the pandemic, India has attracted foreign investment of more than 20 billion dollars between April and July this year.

Best time to invest in India

Prime Minister said that India has what is needed to power the global economic recovery. He noted that India’s rise means a rise in trade opportunities with a nation that can be trusted, a rise in global integration with increasing openness, a rise in competitiveness with access to a market which offers scale, and a rise in returns on investment with the availability of skilled human resources. Calling USA and India as natural partners, he said this partnership can play an important role in helping the world bounce back faster after the pandemic. Reaching out to the American investors, he said that there has never been a better time to invest in India.

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PM chairs a High-Level Meeting to review Ayush Sector
February 27, 2025
QuotePM undertakes comprehensive review of the Ayush sector and emphasizes the need for strategic interventions to harness its full potential
QuotePM discusses increasing acceptance of Ayush worldwide and its potential to drive sustainable development
QuotePM reiterates government’s commitment to strengthen the Ayush sector through policy support, research, and innovation
QuotePM emphasises the need to promote holistic and integrated health and standard protocols on Yoga, Naturopathy and Pharmacy Sector

Prime Minister Shri Narendra Modi chaired a high-level meeting at 7 Lok Kalyan Marg to review the Ayush sector, underscoring its vital role in holistic wellbeing and healthcare, preserving traditional knowledge, and contributing to the nation’s wellness ecosystem.

Since the creation of the Ministry of Ayush in 2014, Prime Minister has envisioned a clear roadmap for its growth, recognizing its vast potential. In a comprehensive review of the sector’s progress, the Prime Minister emphasized the need for strategic interventions to harness its full potential. The review focused on streamlining initiatives, optimizing resources, and charting a visionary path to elevate Ayush’s global presence.

During the review, the Prime Minister emphasized the sector’s significant contributions, including its role in promoting preventive healthcare, boosting rural economies through medicinal plant cultivation, and enhancing India’s global standing as a leader in traditional medicine. He highlighted the sector’s resilience and growth, noting its increasing acceptance worldwide and its potential to drive sustainable development and employment generation.

Prime Minister reiterated that the government is committed to strengthening the Ayush sector through policy support, research, and innovation. He also emphasised the need to promote holistic and integrated health and standard protocols on Yoga, Naturopathy and Pharmacy Sector.

Prime Minister emphasized that transparency must remain the bedrock of all operations within the Government across sectors. He directed all stakeholders to uphold the highest standards of integrity, ensuring that their work is guided solely by the rule of law and for the public good.

The Ayush sector has rapidly evolved into a driving force in India's healthcare landscape, achieving significant milestones in education, research, public health, international collaboration, trade, digitalization, and global expansion. Through the efforts of the government, the sector has witnessed several key achievements, about which the Prime Minister was briefed during the meeting.

• Ayush sector demonstrated exponential economic growth, with the manufacturing market size surging from USD 2.85 billion in 2014 to USD 23 billion in 2023.

•India has established itself as a global leader in evidence-based traditional medicine, with the Ayush Research Portal now hosting over 43,000 studies.

• Research publications in the last 10 years exceed the publications of the previous 60 years.

• Ayush Visa to further boost medical tourism, attracting international patients seeking holistic healthcare solutions.

• The Ayush sector has witnessed significant breakthroughs through collaborations with premier institutions at national and international levels.

• The strengthening of infrastructure and a renewed focus on the integration of artificial intelligence under Ayush Grid.

• Digital technologies to be leveraged for promotion of Yoga.

• iGot platform to host more holistic Y-Break Yoga like content

• Establishing the WHO Global Traditional Medicine Centre in Jamnagar, Gujarat is a landmark achievement, reinforcing India's leadership in traditional medicine.

• Inclusion of traditional medicine in the World Health Organization’s International Classification of Diseases (ICD)-11.

• National Ayush Mission has been pivotal in expanding the sector’s infrastructure and accessibility.

• More than 24.52 Cr people participated in 2024, International Day of Yoga (IDY) which has now become a global phenomenon.

• 10th Year of International Day of Yoga (IDY) 2025 to be a significant milestone with more participation of people across the globe.

The meeting was attended by Union Health Minister Shri Jagat Prakash Nadda, Minister of State (IC), Ministry of Ayush and Minister of State, Ministry of Health & Family Welfare, Shri Prataprao Jadhav, Principal Secretary to PM Dr. P. K. Mishra, Principal Secretary-2 to PM Shri Shaktikanta Das, Advisor to PM Shri Amit Khare and senior officials.