Prime Minister Narendra Modi on Thursday said that as the country goes through challenging times amidst the Covid-19 pandemic, the Government and the industry need to take bold decisions to grow rather than taking a conservative stance. Addressing the 95th annual plenary session of the Indian Chamber of Commerce through video conference, Mr Modi outlined the reform measures undertaken under the Atma Nirbhar Bharat economic package.

Talking of the “bold” reforms the government has taken and what the country’s business environment requires, Mr Modi said it is time to move from “command and control” mode to “plug and play” mode, implying the minimal requirement of Government intervention in businesses.

He said that the country needs to make this pandemic a turning point for the country and make itself self reliant. India should be able to produce every product that it imports, Mr Modi said.

The Prime Minister further said that the industry needs to have a globally competitive domestic supply chain. Referring to the much talked about relationship of environment, livelihood and industries, Mr Modi said that “people, planet and profit” should be the focus of business, which according to him can be balanced.