PM Modi backs farm laws at FICCI event, says it will open up new markets

PM Narendra Modi on Saturday reaffirmed his commitment to the agriculture reforms and said "we are bridging the gaps in the sector that will provide new markets and opportunities to farmers and attract investments." He said that the farm reforms will benefits farmers the most.

The statement comes amid a standoff between the government and the farmers who are protesting for last two weeks demanding a repeal of recently passed farm laws. The prime minister was speaking after inaugurating the virtual FICCI annual expo 2020 which is being held virtually on December 11, 12 and 14, with the theme "Inspired India".

Modi talking about green shoots in the economy said that foreign investors have done record investments in India in the last six years and everyone is working to strengthen the Atmanirbhar Bharat. He said that the country's economic indicators are "encouraging" and it has the road map for recovery from the coronavirus pandemic situation.

"From manufacturing to MSME, agriculture to technology, there has been all around reforms and the corporate tax is the most competitive in the world. Be it mining, defence or space new opportunities are popping up and in a vibrant economy when one sector grows it impacts others as well," Modi said.

Modi said that the private sector not only fulfills our domestic needs but establishes India globally. Talking about the Atmanirbhara Bharat campaign Modi said "we want infant industries in India to become independent and therefore Production Linked Incentive Scheme has been launched for those sectors which can make India a global champion."

India gave its citizens the highest priority and worked together taking tough decisions and implementing them, Modi told the gathering. 

"A decisive government reduces hurdles for others. The job of a decisive govt is to contribute as much as possible to the people of the country. India has a market, manpower, and capability to work with a mission mode. During pandemic we have seen how working together can help others as well," Modi added.  

Prime Minister Narendra Modi, Lok Sabha Speaker Om Birla and Union Minister for Parliamentary Affairs, Coal and Mines, Pralhad Joshi at the foundation stone laying ceremony of the New Parliament Building, at Sansad Marg, in New Delhi on Thursday.

The expo will see the participation of several ministers, captains of industry, diplomats, international experts, and other luminaries, FICCI had said in a statement. The convention is set to deliberate on the implications of Covid-19 on the Indian economy, the reforms being undertaken by the government, and the way forward.

Speaking at the event Tata Group chairman N Chandrashekharan said "The New India can be the global leader in R&D, Science and Technology, and most importantly AI. If we have to realize the idea that 2020 belongs to India; we need to focus on talent, enable data & bandwidth & need to be part of new regulatory standards," He added, "We need to reimagine technology blueprints worldwide." 

The annual expo 2020 will continue for a year and provide an opportunity to exhibitors from across the globe to showcase their products and advance their business prospects.

Meanwhile Media and entertainment executive Uday Shankar took charge of the organisation for the year 2020-21. Shankar is the President of The Walt Disney Company for Asia Pacific and the Chairman of Star and Disney India. He is the first-ever media and entertainment executive in India to lead an industry chamber, the chamber said in a statement.

The Walt Disney Company had recently said Shankar will step down as President of its Asia Pacific business and Chairman of Star and Disney India with effect from December 31, 2020.