Prime Minister Narendra Modi on Thursday said the Indian economy has started seeing "green shoots" of recovery and that the country remains one of the most open economies in the world.

Addressing the India Global Week 2020, he said that in these times when the world is battling the Covid-19 pandemic, it is natural to talk about revival and there is faith that the story of global revival will have India playing a leading role.

"Indians have the spirit to achieve what is believed to be impossible. No wonder that in India, we are already seeing green shoots when it comes to economic recovery," Modi said.

He said the nation’s talents and its ability to reform and rejuvenate are the two factors behind the revival of the economy.
Speaking on the government’s work in six years, he said the nation has made “great gains” in sectors like total financial inclusion, “record” housing and infrastructure development, ease of doing business, “bold” tax reforms including the GST and Ayushmann Bharat, adding, “these gains have set the foundation for the next round of developmental initiatives.”

The Prime Minister said the government’s relief package was targeted to provide “the most poor with the most help” and that “every penny (of the relief measures) has reached every beneficiary”

“Relief includes providing free cooking gas, cash in bank accounts, free food grain to millions of people and other things. As soon as we ‘unlocked’, one of the world’s largest public work programme to provide employment to millions of workers,” Modi said

He said that India remains one of the most open economies in the world.

"We are laying the red carpet for all global companies to come and establish their presence in India. Very few countries will offer the kind of opportunities India does today," he added.

Modi also said that there are many possibilities and opportunities in various sunrise sectors in India.

"Our reforms in agriculture provide a very attractive investment opportunity to invest in storage and logistics," Modi said.
The Prime Minister said the government has brought reforms in the MSME sector, adding that it will “complement big industries”.

Talking about the defence sector, he said that there are investment opportunities there too.”

“With relaxed FDI norms, one of the biggest militaries invites you to make products for it,” Modi said.