India News | India's Economic Progress is Example for World, We Are Fastest Growing Among Major Economies: PM Modi in Lok Sabha

New Delhi [India], February 7 (ANI): Prime Minister Narendra Modi on Monday said that economy of India was the fastest-growing globally and the world has taken note of the country's economic strides that too in the middle of a once-in-a-lifetime pandemic.

"Today India among other big economies is the fastest growing economy. Even during the COVID-19 period, our farmers produced record quantity foodgrains. Over 80 crore people of the country were provided with free ration," the Prime Minister said while participating in the debate on the motion of thanks on the President's address in Lok Sabha.

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PM Modi said that the country's handling of the pandemic is an "example for the world."

Noting a rise in the exports of the country, the Prime Minister said that India has recorded highest exports in various sectors including krishi (agriculture), mobile, software and defence.

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India is making its identity in defence exports as well, said Prime Minister Modi adding that it is because of the country's vision of Atmanirbhar Bharat.

"Total exports of India have touched record high figures even despite the pandemic," the Prime Minister said.

He also noted that India recorded highest ever FDI inflow even amidst these trying times of COVID-19 pandemic.

PM GatiShakti National Master Plan, the Prime Minister said, will encompass economic transformation, seamless multimodal connectivity and logistics efficiency.

From manufacturing to service sector, under Aatmanirbhar Bharat campaign, PM Modi said that India is now becoming part of the global value chain. "Our big focus is on MSMEs and textile - the labour-intensive sectors," he added.

To protect Micro, Small and Medium Enterprises (MSMEs), the government has formulated a scheme worth Rs 3 lakh crore, he said.

Highlighting the works of the government, the Prime Minister said that "For the first time under Svanidhi Yojana, our street vendors are getting loans and are benefitting from digital transactions."

"Space, defence, drones and mining are open to private sector, inviting them to be a part of India's development," PM Modi said. (ANI)

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