PM Modi: Need to enhance R&D investment in country to achieve Atmanirbhar vision

PM Modi: Need to enhance R&D investment in country to achieve Atmanirbhar vision

pm modi on farm reforms, farmer protests in indiaPM Modi said that the global narrative towards India has changed from ‘why India’ to ‘why not India’. (File image)

Prime Minister Narendra Modi delivering the keynote address at the Assocham Foundation Week 2020 on Saturday said that the country needs to enhance investment in the research and development activities in its goals towards becoming Atmanirbhar. In his address via video conferencing, wherein he also felicitated Tata Sons Chairman Emeritus Ratan Tata with Assocham Enterprise of the Century Award in recognition of Tata Group’s achievements, PM Modi said “There is another aspect of investment that needs to be discussed. It is investments to be made on R&D. There is a need to enhance investment in Investment in R&D in India.”

Stressing on the government’s focus on improving and promoting reforms, PM Modi added that the country is having a special focus on manufacturing to become self-reliant by relying on its strengths and resources. “New India, by relying on its strength, relying on its own resources, is pushing forward a self-sufficient India. And we have a special focus on manufacturing to achieve this goal. We are continuously doing reforms to promote manufacturing.” Assocham is hosting the five-day virtual event involving multiple sessions discussing its central theme — Aatmanirbhar roadmap towards a $5 trillion economy.

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India’s manufacturing activity during November was at a three-month low even as it significantly expanded. The manufacturing PMI stood at 56.3 vis-à-vis 58.9 in October, as per the IHS Markit report. The growth was led by consumer goods– the only sector that saw a stronger rate of increase, the report had said.

PM Modi added that the global narrative towards India has changed from ‘why India’ to ‘why not India’ due to the impact of the reforms undertaken in the country. “Our challenge isn’t only being Atmanirbhar. How early we could achieve that vision is equally important.” Modi also urged India Inc to aggressively work towards helping the government achieve the self-reliance vision as the “coming 27 years will be critical not only to decide India’s global role but would also test the dreams and dedications of Indians”

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