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Ahmedabad: Prime Minister Narendra Modi on Saturday said that India’s economy has recovered more strongly than the impact caused by the COVID-19 outbreak.
He said that while the world’s major economies were trying to defend themselves during the pandemic, India was engaged in reforms.
“COVID-19 affected the economies of the whole world including India. But our economy has recovered more strongly than what has been halted by the pandemic,” Modi said while addressing a gathering here after inaugurating the Sardardham Bhawan, a complex for providing training to job-seekers.
“While the world’s major economies were busy defending themselves during the pandemic, we were reforming. When the global supply chain was disrupted, we launched the PLI (Production Linked Incentive) scheme to turn new opportunities in India’s favour,” Modi said.
He said that the scheme has now been extended to the textile sector, adding that the textile sector and cities like Surat can take maximum benefit of the scheme.
India’s economic growth accelerated to 20.1 per cent in the April-June quarter of the current fiscal, helped by a low base from a year ago period despite a disastrous second, according to data released by the National Statistical Office (NSO) on Tuesday. COVID-19 wave. Gross domestic product (GDP) had contracted by 24.4 per cent in the same April-June quarter of 2020-21.
The PLI scheme announced by the Center for 10 key sectors including textiles and automobiles is aimed at helping the country’s economy recover faster after the pandemic.
“We should see ourselves as a global economic leader because India has no dearth of opportunities to make it big in the 21st century,” Modi said.
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