PM Narendra Modi calls for 'repair and prepare' amid COVID pandemic, invites world to invest in India

Stating that India''s strides in the world of tech and start-up are well-known, Prime Minister Narendra Modi said the country is home to one of the world's largest start-up ecosystems and several unicorns have come up in recent years.

PTI photo

New Delhi: Prime Minister Narendra Modi on Wednesday (June 16) called for focus on 'repair and prepare' as the nation emerges out of a devastating pandemic. "Over the past year, we have witnessed a lot of disruption in different sectors. Much of it is still there. Yet, disruption does not have to mean despair," he said at VivaTech Summit.

"Instead, we must keep the focus on the twin foundations of repair and prepare," he said referring to the need to augment healthcare infrastructure in the country as well as prop up the economy. Indian economy suffered its worst contraction in decades in the fiscal year ended March 31, 2021, as the pandemic-induced lockdown impaired economic activity.

The government, however, continued with the reforms that would help sustain higher growth rates after the world emerges from the pandemic. India implemented huge reforms across sectors - from mining to space, from banking to atomic energy, he said. "This goes on to show that India as a nation is adaptable and agile, even in the middle of the pandemic."

"India offers what innovators and investors need," Modi said. "I invite the world to invest in India based on the five pillars of talent, market, capital, eco-system and culture of openness."

Stating that India's strides in the world of tech and start-up are well-known, he said the country is home to one of the world's largest start-up eco systems and several unicorns have come up in recent years.