Trying to revive Indian economy, says Modi

Prime Minister Narendra Modi said Sunday that his government was trying to revive the economy, after putting aside "despair and uncertainty".

"In a short span of seven months, we have been able to change the atmosphere of despair and uncertainty," Modi told the 7th Vibrant Gujarat Summit here.

"Since the first day, my government is actively working to revive the economy," he added.

Modi told the gathering that there was tremendous interest in India, and "countries were coming forward to work with us. Today, India is a land of opportunities".

The prime minister added: "We will have to change the way we have been approaching problems. Recession is often seen just in the context of business and industry.

"Have we ever thought of recession as being the result of low per capita income in countries where a majority of global population lives?

"Have we ever thought of its solution in terms of enhancing the common man's employability, income and purchasing power?

"The best outcome of this event should be inclusiveness and involvement of communities needing care and development," Modi said.

He said his government was committed to changing and improving the economic and social condition of India including the quality of life.

"We want to promote co-operative federalism in the country. At the same time, we want a competitive element among the states.

"I call this new form of federalism co-operative and competitive federalism."