India’s economy has recovered more strongly as compared to the impact Covid-19 pandemic had on it, said Prime Minister Narendra Modi on Saturday.
“Covid-19 affected the economies of the entire world, including that of India. But our economy has recovered more strongly than it was halted by the pandemic,” said Modi.
“When big economies of the world were busy defending themselves during the pandemic, we were carrying out reforms. When the global supply chains were disrupted, we introduced the PLI (production-linked incentive) scheme to turn new opportunities in Favour of India,” he added.
This scheme has been extended to the textile sector now, he said, adding that the cities like Surat can take maximum benefit of the scheme.
The gross domestic product (GDP) had contracted by 24.4 per cent in the corresponding April-June quarter of 2020-21.
The PLI scheme announced for 10 key sectors, including textile and automobiles by the Centre, is aimed at helping the country’s economy recover faster after the pandemic.
“We should look upon ourselves as global economic leader as in the 21st century, India does not have a scarcity of opportunities to make it big,” Modi said.
