‘Golden Opportunity To Make India A Hub Of Global Manufacturing’, PM Modi In Independence Day Address

The country is also working tirelessly towards becoming 'Aatmanirbhar' in the energy sector and combating climate change, PM Modi added.

Addressing the nation from the ramparts of the Red Fort on the 78th Independence Day here, Modi said most of the people he met in his third term wanted to invest in India.

“It’s a golden opportunity” to make India a hub of global manufacturing, he added and called asked state governments to make polices to attract investment, while ensuring good governance and law and order.

“Vocal for Local” Modi’s Arthatantra For Economy

Through ‘Skil India’ programme, India has ignited growth and a new momentum, he added. “Vocal for Local” has become the mantra of India’s Arthatantra (economy), he said.

Modi also said the country needs to work on “Design In India” and “Design for the World”.

In his Independence Day speech, the Prime Minister also spoke about the importance of green hydrogen, he said “we want to make India a global hub for green hydrogen. It has potential for generating ‘green jobs’.”

India is the only country among G20 nations to achieve its commitment of climate goals promised at the Paris conference, added PM Modi.

PM Modi On Indian Banks

Indian banks are among the few banks that are strong globally, said PM Modi in his 11th Independence speech. He gave a credit to his government for major reforms undertaken during his regime for Indian Banking sector. ‘Strong banking system gives strength to the formal economy,’ added PM Modi.

He said that earlier the banking sector was going through tough times, but there is growth in the segment.

“Just imagine what was the condition of our banking sector. There was no growth, no expansion, and there was no faith (in the banking system). Our banks were going through difficult times…We took big reforms to make the banking sector strong. Today, because of the reforms, our banks are among the few strong banks globally,” Modi said.

He emphasised that a strong banking system is crucial to fulfil the needs of the middle class, farmers, homebuyers, startups, and the MSME sector.

(With Inputs From PTI)