New Delhi, June 2: Prime Minister Narendra Modi on Tuesday addressed the Annual Session of the Confederation of Indian Industry (CII) to mark its 125 years since its inception in 1895. Notably, it was PM's first major speech on the economy since the announcement of Unlock-1. Addressing captains of the Indian industry, PM Modi said that India will definitely get its growth back. Moody's Downgrades India's Rating to Baa3 Amid COVID-19 Pandemic, Keeps Outlook 'Negative'.

"Coronavirus may have slowed economy, but India will get its growth back. Re-strengthening economy against Corona is one of our highest priorities. For this, the government has taken immediate decisions. We have also taken decisions which will help the country in the long run," Prime Minister said. India Faces Fourth Recession Since Independence, Indian Economy Shrinking 5% in FY 2020-21 Due to COVID-19 Pandemic, Says CRISIL.

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"Intent, inclusion, investment, infrastructure and innovation important to get India back to a high growth trajectory. Reforms are not random, scattered decisions; they are systemic, planned, integrated, inter-connected and futuristic process," he added.

Prime Minister said that now the country needs to manufacture products that are "Made in India" but are "Made for the World". On his vision of  Atma-Nirbhar Bharat, PM Modi said, "Now we have to invest in the creation of a Robust Local Supply Chain that strengthens India's stake in the Global Supply Chain. In this campaign, a big institution like Confederation of Indian Industry (CII) will also have to come forward in a new role post-Corona."

Novel coronavirus crisis had brought the economic activities to a standstill. However, economic activities are being restarted in a phased manner. Here's Unlock 1 Guidelines Issued By MHA While Lockdown 5.0 Extended in Containment Zones in India Till June 30. 

Founded in 1895, CII is an industry association in India. It has over 9100 members, from the private as well as public sectors, and an indirect membership of over 300,000 firms from 291 national and regional sectoral industry bodies.

(The above story first appeared on LatestLY on Jun 02, 2020 11:32 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).