CII Event Highlights: Address by Prime Minister Narendra Modi

Prime Minister Narendra Modi recently addressed the Confederation of Indian Industry (CII), highlighting the remarkable strides India has made in its economic journey and outlining the government’s vision for the future. Here are the key takeaways from his speech:

Opening Remarks

Prime Minister Narendra Modi began by expressing his gratitude to the CII for inviting him to the event. He recalled the discussions during the pandemic about “Getting Growth Back” and emphasized how India has now achieved significant economic growth, currently expanding at an 8% rate.

Economic Achievements

1. Economic Growth: PM Modi highlighted India’s journey to becoming the world’s fifth-largest economy and expressed confidence in reaching the third position soon.
2. Budget Growth: Comparing the last budget of the previous government in 2013-14, which was ₹16 lakh crore, he pointed out that the current budget has tripled to ₹48 lakh crore.
3. Capital Expenditure: Capital expenditure has seen a significant increase from ₹90,000 crore in 2004 to over ₹11 lakh crore today, indicating robust investment in infrastructure and development.

Sectoral Growth

PM Modi highlighted the government’s commitment to various sectors:

• Railways and Highways: Budget allocation has increased eightfold.
• Agriculture: The budget has grown more than four times.
• Defense: The budget has more than doubled.

Tax Reforms and MSMEs

1. Tax Reductions: The corporate tax rate for MSMEs has been reduced, benefiting businesses with an income of up to ₹400 crore.
2. MSME Support: The government has introduced a new credit guarantee scheme to provide necessary working capital and credit to MSMEs, facilitating their growth and formalization.

Skill Development and Employment

1. Skill Development: The government has focused on skilling the youth through initiatives like the Mudra Yojana and Start-up India, helping millions of young entrepreneurs.
2. Internship and Employment Generation: New schemes and incentives have been introduced to encourage employment generation, including EPFO contribution incentives.

Infrastructure Development

1. Industrial Parks: The budget includes plans to develop investment-ready industrial parks in 100 major cities, aiming to transform them into new growth hubs.
2. Multimodal Logistics Parks: Enhancing logistics infrastructure to support manufacturing and trade.

Emerging Sectors and Technology

1. Semiconductors and Electronics: Emphasis on positioning India as a key player in the global semiconductor value chain and promoting electronics manufacturing.
2. Green Energy: Initiatives like the PM Suryaghar Yojana and investments in green hydrogen and electric vehicles are aimed at creating a sustainable future.
3. Nuclear Energy: Development of small nuclear reactors to ensure energy security and support industrial growth.

Anamika Jain, CEO of AAJ Enterprises, Attends the Event

Anamika Jain, CEO of AAJ Enterprises, was invited to participate in the CII event. Her presence at the event underscores AAJ Enterprises’ commitment to aligning with national economic policies and contributing to the country’s growth. Representing young entrepreneurs in the logistics industry. Her participation reflects AAJ Enterprises’ dedication to staying at the forefront of industry developments and fostering innovation in the logistics sector.

Conclusion

PM Narendra Modi concluded by urging the industry to work shoulder-to-shoulder with the government in achieving the vision of a developed India. He emphasized the importance of political will and the role of the private sector as wealth creators in India’s growth story.