Thursday, 2 December, 2021

‘Indian economy bouncing back strongly’

‘Indian economy bouncing back strongly’

NEW DELHI: The Indian economy is bouncing back strongly, domestic consumption is increasing and industrial production is at pre-COVID level, Minister of State for External Affairs V Muraleedharan has said, emphasising that the reforms implemented by the government has provided fillip to the business ecosystem in the country.

Muraleedharan said the Narendra Modi government has undertaken far-reaching structural reforms, making use of the mantra of ‘Reform, Perform and Transform’.

These reforms range from digital transactions to banking reforms, to combating corruption, controlling inflation. Now more than 90% of the FDI approvals have been put on the automatic approval route. We are promoting an ecosystem of creativity and innovation in every field, the minister said here last week, report agencies.

Muraleedharan was in the city for a two-day visit to attend a high-level UN Security Council open debate on Peacebuilding and sustaining peace’ held under the Kenyan Presidency of the Council earlier last week.

Speaking at an event organised by Jaipur Foot USA and Gracious Givers Foundation USA in the city, Muraleedharan said the reforms being undertaken by the government provides fillip to the business ecosystem in India and the diaspora could play a significant role in the process by roping in more investments and bringing in technology and skills into the country.

We firmly believe that with the improving ecosystem and better engagement with the diaspora, new ideas will germinate in the country, he said.

It is evidently clear that the economy is bouncing back strongly. Domestic consumption is increasing and industrial production is at pre-COVID levels, he said.

Muraleedharan told the gathering of eminent members of the Indian-American community and diaspora that India is now in the process of moving towards Atmanirbhar Bharat’ (self-reliant India).

When we say ‘Atmanirbhar Bharat’, it does not mean an inward-looking policy. It’s a strategy that would enable and lead us towards a stronger self-reliant India, linking the global supply chains,” he said.

He noted that to provide further fillip to the manufacturing sector, the government has approved production linked incentive schemes in 10 key sectors to give a boost to the economy affected by the COVID19 pandemic.

Muraleedharan also lauded the work being done by Bhagwan Mahaveer Viklang Sahayata Samiti (BMVSS) and Jaipur Foot USA. “The organisation’s transformative service to the underprivileged free of cost deserves special mention, he said.

The minister added that Jaipur Foot camps have helped change lives of many people not only in India but across the globe from Asia to Africa to Latin America.

It is a matter of satisfaction and pride” that under the India for Humanity initiative launched as part of Mahatma Gandhi’s 150th birth anniversary celebration, numerous artificial limbs fitness camps fully sponsored by the Ministry of External Affairs and operationalised by BMVSS have been held in 13 countries and more 7000 artificial limbs have been fitted.